Evergrande
Evergrande Auto begins summer testing for 5 Hengchi models
Evergrande Auto began winter testing of the first mass-produced vehicle, Hengchi 1, in the cold environment of Inner Mongolia on Feb. 3 this year.
Evergrande Auto parent sells 2.66% stake at 20% discount
With this move, Evergrande Auto's top 20 shareholders' shareholding dropped below 90 percent, satisfying the necessary conditions to allow it to enter the Shanghai-Hong Kong Stock Connect.
Despite not delivering a single car, Evergrande Auto has overtaken Nio as second most valuable carmaker in China
At the close of trading on April 1, Evergrande Auto had a total market capitalization of HK$589.5 billion ($75.8 billion), higher than Nio's $62.2 billion, which is listed in the United States.
Evergrande Auto has invested $7.25 billion to build cars
Evergrande Auto, the car-making business of China's largest real estate company, has invested RMB 47.4 billion ($7.25 billion) to build new energy vehicles, the company said in its annual financial report released March 25.
Former Byton CEO reportedly to join Evergrande Auto
Dai Lei, former CEO and co-founder of Chinese EV startup Byton, will take a position at Evergrande Auto.
Despite not having delivered a single vehicle, Evergrande Auto has become China's third largest publicly traded car firm behind BYD and Nio
The investor frenzy over China's new energy vehicle industry is far from over, and Evergrande Auto is a good example.
Evergrande's car-making arm launches 3 new models, expanding its model lineup to 9
The Hengchi 7 is an all-electric B-class luxury sedan, Hengchi 8 is an all-electric C-class luxury coupe, and Hengchi 9 is an all-electric B-class luxury midsize SUV.
Evergrande starts winter testing of its vehicles in -35°C environment
Evergrande NewEnergy Vehicle Group, the car making arm of China's biggest property developer China Evergrande, started winter testing of its first production vehicle, the Hengchi 1, in the cold environment of northern China's Inner Mongolia.
Evergrande's car making arm raises up to $3.35 billion through private placement
This is one of the largest equity financings in China's new energy vehicle industry. It's trading at an 8 percent discount to the average closing price over the previous five trading days, with each investor voluntarily locking in for 12 months, the company said.
China's top real estate developer aims to produce 5 million cars a year by 2035
Evergrande NewEnergy is developing 14 models, and has set up 10 intelligent manufacturing bases around the world.
