Hengchi 5

Evergrande NEV said it plans to resume production of the Hengchi 5 in May.

The H-Pilot assisted driving system is available for the first time for the Hengchi 5, giving the vehicle the ability to perform full-speed adaptive cruise control and lane keeping.

Evergrande NEV delivered the first Hengchi 5 vehicles to owners on October 29.

Hengchi 6 will be mass-produced in the first half of next year and Hengchi 7 in the second half of next year, Evergrande NEV said.

The Hengchi 5 offers a competitive price, though a question mark remains as to whether consumers will buy it, given Evergrande's debt concerns.

Evergrande NEV will allow the first 10,000 consumers to pay for the car when it is delivered, with 15 days to return it and receive a refund.

Hengchi 5's scheduled June 22 mass production date has been adjusted to September 20.

The Hengchi 5 will initially be sold in small numbers to individual customers and will be used mainly in the ride-hailing market, local media reports said.

Hengchi's first showroom and sales centers will soon open in 15 key cities, including Tianjin, Shanghai and Guangzhou.

Hengchi 5 must be in mass production by June 22, Hui Ka Yan, or Xu Jiayin, chairman of Evergrande Group, said Tuesday.