China’s Evergrande delivers first electric car
The first 100 clients received their Hengchi 5 electric vehicles on Saturday, according to a statement on China Evergrande New Energy Vehicle Group Ltd’s official Wechat account.
A plant in the northern city of Tianjin is where the business, a division of the massively indebted real estate developer China Evergrande Group, began producing the car last month.
With plans to produce 1 million automobiles by 2025, Evergrande New Energy Vehicle Group hopes to shift the group’s principal business from real estate to the automotive venture over the next ten years.
China’s Evergrande delivers first electric car
It has stated that it will begin mass producing its third EV model in the second half of next year and its second EV model in the first half of 2023.
Sport utility car Hengchi 5 electric car costs 179,000 yuan ($24,690.00). As $1 equals 7.2499 Chinese yuan renminbi.
