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Evergrande Says It Will Launch First EV in September – Sina

The ailing property developer said mass production of its Hengchi 5 e-SUV has been pushed back because of China’s Covid lockdowns

China Evergrande EV battery cars
Test cars are parked outside the Evergrande New Energy Vehicle's research centre in Shanghai. Legend Capital said the penetration rate of new energy vehicles in China reached 25.3% in April, and according to the industry forecasts, it will increase to 35% by the end of the year. File photo: Reuters.


China’s debt-ridden developer Evergrande has said it is on track to deliver its first electric vehicle in September, despite rumours about an indefinite delay, according to a report in Sina Finance. 

Evergrande dismissed speculation about planned delays to its EV’s launch, but added mass production of the e-SUV Hengchi 5 will be “adjusted” and pushed back by a quarter to September 20 due to the impact from Covid, the report added.

Full story: Sina Finance


Read more:

Evergrande EV Arm to Start Taking Car Orders ‘Imminently’

China Grants Evergrande NEV Approval To Start Vehicle Sales



Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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