Evergrande's first electric car -- 'Hengchi' -- will be delivered from its Tianjin factory at the start of 2022. - Bloomberg
HONG KONG (Bloomberg): China Evergrande Group’s electric-vehicle unit jumped in Hong Kong trading after the chairman of the indebted property giant said making such cars would become its main business within a decade.
Shares of China Evergrande New Energy Vehicle Group Ltd. climbed as much as 17% on Monday, the most in three weeks. Evergrande rose 6% before erasing the gain to trade 1.1% lower at 1.39pm. The Securities Times reported Friday (Oct 25) that Evergrande Chairman Hui Ka Yan said he plans to scale down real-estate operations to focus on new energy vehicles.
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