Evergrande Electric Vehicle Arm To Start Taking Car Orders 


HONG KONG, March 28 - China Evergrande New Energy Vehicle Group (0708. HK) said it would start accepting its inaugural electric car orders.

The Hengchi 5 sport utility vehicle, "imminently" and open sales centers in 15 major cities.

Liu Yongzhuo, president of the electric vehicle arm of the world's most indebted property developer China Evergrande Group (3333. HK).

Commented at an online meeting attended by nearly 200 global parts suppliers on Sunday, according to the firm's official Wechat account.

However, the social media post did not say precisely when the firm would start taking orders.

The plan comes as the EV firm has struggled to secure external investment.

Evergrande told investors in a call last week that it was trying to rope in investors to help bolster the unit's finances - a goal it has been pursuing for months without much success.

Evergrande New Energy Vehicle said in November that it had been negotiating with potential buyers.

It is regarding the disposal of some assets and talking to potential investors about funding.

Evergrande chairman Hui Ka Yan said at an internal meeting last week that the EV company will start mass production on June 22, 2022.

After getting approval from the Ministry of Industry and Information Technology to start sales earlier this month.

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