Evergrande EV unit's shares fall on order to repay over $260m in subsidies
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Chinese authorities have demanded that the electric vehicle unit of China Evergrande Group repay 1.9 billion yuan ($262 million) in subsidies. Some subsidiaries of the EV maker failed to meet their contractual obligations, including achieving a certain investment scale, planned production capacity, annual sales, and establishing a global headquarters within a set timeframe. The order has dealt a fresh blow to the stock of Evergrande's EV unit. The company's Tianjin factory has been told to suspend production and sales of new cars as pressure builds.

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https://asia.nikkei.com/Business/Markets/China-debt-crunch/Evergrande-EV-unit-s-shares-fall-on-order-to-repay-over-260m-in-subsidies