Dongfeng Motor, its subsidiary receive RMB 10.63 million local NEV subsidies

Shanghai (Gasgoo)- It is reported that Dongfeng Motor recently received the rest part of the 2015 new energy vehicle subsidies, totaling RMB 7.33 million (about $1.1million), and its subsidiary, Dongfeng Xiangyang Touring Car Co., Ltd received the 2016 new energy subsidies of RMB 3.3 million (about $507,507) from Xiangyang Municipal Financial Bureau. 

Dongfeng Motor stated that the subsidies will directly credit the account receivables, exerting positive influence to the cash flow of Dongfeng Motor and Dongfeng Xiangyang Touring Car Co., Ltd.