The Chinese property developer that reckons it can take on Tesla

SHANGHAI: A Chinese developer known for its investments in everything from soccer clubs to spring-water companies is taking on Elon Musk in the electric vehicle arena, declaring it can be the biggest manufacturer in the world within three to five years.

China Evergrande Group, the nation’s second largest property developer, has been moving further away from its real estate roots for years, but this may be its boldest departure yet.