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Electric cars in China

Evergrande unit's shares hit by report of Beijing EV investigation

China launches nationwide review of electric-vehicle projects

One of Evergrande's roster of EV models. (Photo Courtesy of Evergrande Group)

HONG KONG -- Shares of the electric vehicle unit of property developer China Evergrande Group fell sharply after reports it would be a target of an industry investigation by China's top economic planning body. 

China Evergrande New Energy Vehicle Group, also known as Evergrande Auto, fell as much as 11% in Hong Kong before closing 5.2% lower at HK$22.80.

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