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China debt crunch

Evergrande halts plan for mainland China electric car listing

EV unit was expected to use funds for auto development and working capital

Evergrande Group's Hengchi electric vehicles are on display at the Auto Shanghai show in April. Evergrande's electric car unit has halted plans for a mainland listing.   © Reuters
NARAYANAN SOMASUNDARAM, Nikkei Asia regional finance editor | China

HONG KONG -- China Evergrande Group's electric car unit has terminated plans for a maiden mainland share offering amid concerns over the fate of the embattled parent, which is fast running out of cash.

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