Dongfeng Motor Co., Ltd. issued an announcement today evening that Dongfeng Motor received a subsidy of RMB 32 million from the Dongfeng New Energy City Bus Technology Development Project allocated by the Finance Bureau of Xiangyang City, Hubei Province on October 9.
Dongfeng said that according to the “Implementation Plan†of the project, the motor companies and battery companies in the project joint unit will allocate 20% of 32 million yuan, and the remaining 80% will be issued by the Ministry of Finance, the Ministry of Industry and Information Technology, and the Ministry of Science and Technology. The relevant provisions of the Interim Measures for Assessment Management of New Energy Automobile Industry Technology Innovation Project (Caijian [2013] No. 458) and the “Accounting Standards for Business Enterprises†are included in “other payablesâ€.
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