Evergrande New Energy Vehicle, the electric car division of the Chinese real estate group Evergrande, has apparently suspended series production of its only model, the Hengchi 5, due to a lack of new orders.
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Evergrande New Energy Vehicle, the electric car division of Chinese real estate group Evergrande, is apparently still in trouble and could be taken over by another carmaker. According to the report, first suppliers are already insisting on full payment before delivery.
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Evergrande New Energy Vehicle, the electric car division of the Chinese real estate group Evergrande, has started pre-sales of its first model in China. The price has now also been fixed. The Hengchi 5 is available from 179,000 yuan, the equivalent of about 26,150 euros.
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Last year, Hong Kong-based Evengrande New Energy Vehicle hired the experienced German car manager Daniel Kirchert. The EV vehicle startup’s mother-company, real estate giant Evergrande is struggling with enormous debt.
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Evergrande New Energy Vehicle, the electric car division of the Chinese real estate group Evergrande, has started series production of its first model. The first model, the Hengchi 5, is a compact electric SUV.
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Evergrande New Energy Vehicle plans to raise fresh capital by issuing more shares to six investors. Specifically, about 174.8 million shares at HK$2.86 each will be placed for expected gross proceeds of about HK$500 million (55.5 million euros).
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The first electric model from Evergrande New Energy Vehicle, the electric car division of Chinese real estate group Evergrande, is now officially listed in the catalogue of the Chinese Ministry of Industry and Information Technology (MIIT). This completes the registration process for the Hengchi 5 LX.
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More details have been revealed about the Chinese Evergrande Group’s ambitious electric car plans: Evergrande has now announced the first six models to be offered under the Hengchi brand.
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