China Evergrande puts its first model of electric car into production in its Tianjin factory. Photo: Handout.
China Evergrande puts its first model of electric car into production in its Tianjin factory. Photo: Handout.

China EV war: Evergrande raises US$3.35 billion in plan to dominate Tesla, NIO and other home rivals

  • Company to sell 952.4 million new shares to six Hong Kong and mainland tycoons at a 9 per cent discount to Friday’s closing price
  • Stock has risen 307 per cent over the past 12 months despite huge losses in recent years

China Evergrande puts its first model of electric car into production in its Tianjin factory. Photo: Handout.
China Evergrande puts its first model of electric car into production in its Tianjin factory. Photo: Handout.
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