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China Evergrande’s EV unit warns it may halt production due to funds shortage
© Reuters. FILE PHOTO: A crane stands at a construction site near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China, Sept. 26, 2021. REUTERS/Aly Song
HONG KONG (Reuters) – China Evergrande New Energy Vehicle Group Ltd said on Thursday it was at risk of halting production of electric vehicles (EVs) as it was unable to obtain additional liquidity.
The EV manufacturing unit of the embattled developer China Evergrande Group said if it was able to obtain financing of more than 29 billion yuan ($4.21 billion) “in the future”, it planned to launch a number of flagship models and hoped to achieve mass production.
($1 = 6.8802 )
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