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Automobiles

China's BYD collects $190m in subsidies for electric cars

Automaker's finances strained after Beijing cut incentives

BYD's sales of new-energy vehicles have dropped for seven straight months through January. (Photo by Takashi Kawakami)

GUANGZHOU -- BYD, China's leading manufacturer of electric vehicles, recently received 1.34 billion yuan ($191 million) in government subsidies as it grapples with a reduction in incentives and the prospect of a further downturn in sales.

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