A Hengchi 1 electric vehicle is on display at the Evergrande Auto booth during the 19th Shanghai International Automobile Industry Exhibition on April 19, 2021. Photo: VCG via Getty Images
A Hengchi 1 electric vehicle is on display at the Evergrande Auto booth during the 19th Shanghai International Automobile Industry Exhibition on April 19, 2021. Photo: VCG via Getty Images
Autos

China Evergrande’s electric-vehicle unit gets US$200 million from returning undeveloped land

  • The Hong Kong-listed carmaker says the money will be used to fund construction projects and pay wages
  • Its cash-strapped parent, China Evergrande, is hoping to transform its business focus from property development to car manufacturing

Topic |   Autos
A Hengchi 1 electric vehicle is on display at the Evergrande Auto booth during the 19th Shanghai International Automobile Industry Exhibition on April 19, 2021. Photo: VCG via Getty Images
A Hengchi 1 electric vehicle is on display at the Evergrande Auto booth during the 19th Shanghai International Automobile Industry Exhibition on April 19, 2021. Photo: VCG via Getty Images
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