Doubts about production of electric cars Evergrande subsidiary

Doubts about production of electric cars Evergrande subsidiary

Photo: ANP

Two car models developed by the electric car division of ailing Evergrande are not on an approval list from China’s Ministry of Industry and Information Technology. The absence of the list has raised further doubts as to whether the company will be able to begin mass-producing electric vehicles as promised, according to Bloomberg news agency.

China Evergrande New Energy Vehicle Group, as the unit of the Chinese real estate giant is called in full, applied for approval last month for two electric SUV models from its Hengchi brand. The approval list was released on the ministry’s website on Wednesday, but Evergrande NEV’s models were missing. The ministry and the automaker have not yet released any details about a final decision following the list.

Although Evergrande NEV has made several attempts in recent weeks to raise money to fund the mass production of its electric cars, it already warned in September that it was facing a serious cash shortage, echoing the financial difficulties facing its parent company. has to do. Evergrande is burdened with a debt burden of 260 billion euros and appears to be unable to meet its payment obligations.

Evergrande NEV, once one of Evergrande’s most valuable assets, said it had suspended a number of payments and several suppliers had stopped supplying the company. Money problems make it increasingly unlikely that the automaker, which once had ambitions to dethrone Elon Musk’s Tesla, could actually begin mass-producing its highly anticipated electric vehicles next year.

Doubts about production of electric cars Evergrande subsidiary
Source link Doubts about production of electric cars Evergrande subsidiary

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