EV Arm Of Evergrande To Imminently Begin To Accept Car Orders

The New Energy Vehicle arm of Chinese Evergrande group has announced that it will begin the acceptance of orders for it’s maiden electric car, the ‘Hengchi 5 Sport Utility Vehicle’ imminently.

The vehicle firm, an offshoot of the second largest developer in China by sales, Evergrande Group also said it will open sales centre in 15 major cities across China to further propel it’s electric vehicle gospel.

Evergrande New Energy Group President, Liu Yongzhuo in an online meeting attended by about 200 global parts suppliers made the disclosure on Sunday  through the official Wechat account of the firm.

The post on the WeChat page though fell short of indicating when exactly the firm will begin to take orders.

The announcement is coming on heels of Evergrande’s EV arm struggles in securing investment to stabilise it’s finances. The company last week in a statement announced that it was trying to bring in investors to help scale up the unit finances, a goal it has been actively pursuing for a while now with little success.

The New Energy Vehicle arm had also in November last year made it known that it had been negotiating with potential buyers to work on the disposal of some assets, while it is currently talking to potential investors about funding.

Chairman Hui Ka Yan at the unit’s internal meeting last week said that the Electric Vehicle company will begin mass production by June 22, immediately it secures approval from the Ministry of Industry and Information Technology to start sales.

In the post on the Wechat page of Evergrande, the company announced that it sales centres will be located in Tianjin, Shanghai and Guangzhou.