Evergrande takes on Tesla, rolling out its first electric vehicle as the embattled Chinese real estate developer seeks to make EVs its core business
China is the world's largest EV market but Evergrande's Hengchi is entering a very competitive arena where international players like Tesla compete with a host of leading homegrown brands like BYD, Nio, Xpeng and Li Auto.
"If the Hengchi 5 vehicles sell well, it will be a ray of hope for Evergrande after months of efforts to keep its businesses afloat," Eric Han, senior manager at Suolei business advisory told the SCMP."It was an important step taken by Evergrande to wade through its funding crisis."Subscribe to push notifications
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