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PennyWorld

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Wednesday, 11/02/2016 2:44:00 PM

Wednesday, November 02, 2016 2:44:00 PM

Post# of 3876
20% Reduction in Subsidies for KNDI in 2017 and beyond - SEC Filing

EXCERPT.....
For instance, on April 29, 2015, the four government departments in the PRC, Ministry of Finance, Ministry of Science and Technology, Ministry of Industry and Information Technology and National Development and Reform Commission jointly announced the subsidy policy for new energy vehicles from year 2016 to 2020, which indicated that the subsidy of year 2017-2018 will be reduced by 20% compared with that of the year 2016, and the subsidy of year 2019-2020 will be reduced by 40% compared with that of the year 2016.

See near the end of the document under Part II.

https://www.sec.gov/Archives/edgar/data/1316517/000106299316009531/form10q.htm






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