China Evergrande's EV unit to sell 20% stake in Swedish firm for tax needs

Offloading holding in Scandinavian real estate rental company

250225 Evergrande EV

China Evergrande New Energy Vehicle Group's market valuation surpassed Ford Motor at one point. © Reuters

(Reuters) -- China Evergrande Group's electric vehicle unit said on Tuesday it agreed to sell its 20% stake in a Sweden-based real estate property lessor for 60 million krona ($5.63 million).

The stake sale in AB Trollhattan Propellern 13 will help China Evergrande New Energy Vehicle Group meet its imminent tax payment needs and other payment obligations.

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