China's local bodies ask Evergrande EV unit to return $262.4 mln in subsidy

Reuters05-22

May 22 (Reuters) - China Evergrande New Energy Vehicle

said on Wednesday its unit had received a letter from the country's local administrative bodies demanding repayment of 1.9 billion yuan ($262.42 million) given as subsidies and incentives.

($1 = 7.2404 Chinese yuan renminbi)

(Reporting by Poonam Behura in Bengaluru; Editing by Sriraj Kalluvila)

((Poonam.Behura@thomsonreuters.com;))

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