Evergrande New Energy Vehicles Could Shutdown Without New Funding | Carscoops carscoops
, Evergrande discussed a complicated restructuring designed to shore up their finances. While the filing is massive, due to Evergrande being involved in multiple areas including real estate, it paints a dark picture for automotive production., but they’ve only delivered a little over 900 units since then.
However, Evergrande isn’t throwing in the towel. Instead, they want to obtain over ¥29 billion in financing, so they can “launch a number of flagship models” and “achieve mass production.” Of course, that’s not exactly pocket change and there’s no guarantee the funds would turn the company into a success.Evergrande had plans for an expansive automotive lineup and wanted to sell more than 1 million vehicles annually by 2025.
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