Officials gather for the launch ceremony of China Evergrande New Energy Vehicle Group’s production of electric cars in Tianjin, China, on June 29, 2019. Photo: Handout
Officials gather for the launch ceremony of China Evergrande New Energy Vehicle Group’s production of electric cars in Tianjin, China, on June 29, 2019. Photo: Handout

Evergrande NEV’s stuttering car-production plan delivers blow to Hui Ka-yan’s vision of challenging Elon Musk’s Tesla

  • Mass production of Hengchi-branded cars is in the final stretch, but the group still faces cash flow challenges, says arm of China Evergrande Group
  • Evergrande NEV reports loss of 4.8 billion yuan (US$742 million) for the first half

Officials gather for the launch ceremony of China Evergrande New Energy Vehicle Group’s production of electric cars in Tianjin, China, on June 29, 2019. Photo: Handout
Officials gather for the launch ceremony of China Evergrande New Energy Vehicle Group’s production of electric cars in Tianjin, China, on June 29, 2019. Photo: Handout
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