GUANGZHOU -- The electric vehicle unit of China Evergrande Group has begun accepting preorders for its first model, in what the cash-strapped property developer hopes will be the first step to recouping its hefty investments in a competitive sector.
The Hengchi 5 sport utility vehicle carries a driving range of 602 km and is priced at 179,000 yuan ($26,700), including a required 1,000-yuan deposit.
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