Evergrande plans Shanghai listing to boost EV goal

Chinese developer aims to become largest electric vehicle maker in 3-5 years

One of the new Evergrande electric vehicle models unveiled this year. The Chinese developer is promising a big push into EVs. (Photo courtesy of Evergrande)

NIKKI SUN, Nikkei staff writer

September 18, 2020 15:01 JST

HONG KONG - China Evergrande Group, one of the nation's biggest developers, has further signalled its intent in the race to become the nation's top rival to Tesla, with a proposal to list its electric vehicle unit in Shanghai.

The proposal follows the successful listing of two Chinese electric vehicle startups -- Xpeng Motors and Li Auto -- in the U.S, with their shares surging thanks to growing investor interest in green vehicles.