Evergrande cannot be slowed down on its way to becoming an electric car giant

Evergrande cannot be slowed down on its way to becoming an electric car giant-cannot

Evergrande Auto, the e-car division of the Evergrande Group, which is now highly indebted, intends to continue with the plans to produce electric cars. Despite the undeniable massive liquidity crisis of its own parent company. It is currently planned that the Hengchi 5 should be available for sale in early 2022. The company receives the necessary support from the local government.

The original plan was for Evergrande Auto to become the world’s leading electric car group in terms of size and competitiveness within the next three to five years. We remember August 2020, when the Chinese company, known to some as the owner of the Saab successor NEVS and the main shareholder of the electric car start-up Faraday Future, presented six new electric car models of its Hengchi brand. Currently, 14 electric cars are being developed under the Hengchi brand, covering major passenger car segments including sedans, sport utility vehicles and MPVs.

As Liu Yongzhuo, president of Evergrande New Energy Vehicle, told the South China Morning Post, a three-month campaign has been launched to get the company’s problems under control. This rather short-term plan is intended to lay the foundation for the Hengchi 5 to be built and tested at the Tianjin plant. The chairman of the Binhai High-Tech Region Communist Party in Tianjin has promised the necessary support.

“The fate of the high-tech district and the Evergrande New Energy Vehicle Group are closely linked. We must face the difficulties, look for opportunities and provide help with the funding policy, verification and coordination between the relevant departments and financial institutions to help the company overcome this difficult situation as soon as possible and help Evergrande to achieve it , to reach its goal of mass production early.— Xia Qinglin, head of the county Communist Party

As early as August, there were increasing rumors that Evergrande Auto would disappear from the market before it had even really started. In this context, there were also rumors about the discontinuation of production of the SION by Sono Motors. But these have since been refuted. At the moment, however, things seem to be going further at Evergrande Auto, also in their own home market.

“Evergrande has already entered into strategic partnerships with around 60 of the world’s leading suppliers of automotive parts and has set up supply chains for batteries and drives, among other things. Advanced vehicle manufacturing, innovative sales and intelligent charging are also part of the strategy. In addition, the company has built up capacities for research and development in China, Sweden, Germany, Great Britain, the Netherlands, Austria, Italy, Japan and South Korea,” according to the information that became public when Evergrande Auto presented its ambitious goals.

Related articles

Please follow and like us:

7 thoughts on “Evergrande cannot be slowed down on its way to becoming an electric car giant”

  1. Something very boldly formulated, dear author. Evergrande would first have to become an e-car producer in order to become a giant after many successful years..

  2. Again, I wish you all the best as we move towards a more sustainable future with fewer emissions and cleaner air in our cities around the world.
    Every BEV sold means one combustion engine not sold, and that’s a good thing 🙂

  3. Innovation and future technology with regard to a climate-friendly future should survive. Anything else doesn’t deserve a tear. If it works then bravo, if not then others will jump into the gap. The direction is finally the right one. But not everyone has internalized it yet.


Leave a Comment