ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Electric cars in China

Crisis-mired China Evergrande hits electric vehicle roadblock

Embattled property group unable to bring cars to market while finances suffer

Although Hengchi 5 SUVs have rolled off the assembly line at a plant in Tianjin, the first model from China Evergrande New Energy Vehicle Group cannot be sold to drivers. (Photo courtesy of the company)

GUANGZHOU -- China Evergrande Group's crisis has cast a dark cloud over the real estate empire's expensive bid to speed into the electric vehicle business.

The huge developer that now finds itself under a crushing debt load had intended for electric vehicles to become a medium- to long-term revenue source. A subsidiary set up to handle the venture turned out its first mass-produced vehicle in January despite not having received regulatory approval for the model.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more