JAC receives government subsidies of RMB 392 million in 2017

Shanghai (Gasgoo)- On January 13, JAC Motors announced that the company, along with its subsidiaries received a total of RMB 392 million government subsidies in 2017, RMB 227 million of which was pertinent to income.

The list on the details of subsidies shows that apart from the parent company, another 17 subsidiaries of JAC have received the subsidy from the government, among which 11 are wholly-owned subsidiaries.

According to data released by the company, JAC produced 28,352 battery electric vehicles, soaring 54.63 percent year on year. The sales of battery electric vehicles reached 28,263 units, increasing 53.86 percent. In 2017, the sales of IEV series totaled 23,153 units, skyrocketing 266 percent.

In order to gain more shares in new energy vehicle market, JAC will introduce a number of new models, including the iEVA50. According to the company’s plan, the NEV sales will account for at least 30 percent of the total sales volume of the company.