China unveils green vehicle subsidy caps; increases technical requirements

China will cap subsidies and increase technical requirements for green energy vehicles starting next year in the wake of a subsidy cheating scandal, according to documents posted on the Ministry of Finance website on Thursday. The measures include a new formula for calculating central government subsidies and subsidy caps for electric and plug-in hybrid coach buses, with a maximum subsidy of 300,000 yuan ($43,000) per vehicle, roughly half of the previously listed highest subsidy of 600,000 yuan