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In Depth: Evergrande’s Electric Car Ambitions Hit Speed Bumps

2019年09月04日 20:27 来源于 财新网
Sectorwide headwinds, a costly soured deal and an acquisition-led approach all pose challenges to real estate giant
In June, National Electric Vehicle Sweden, majority owned by Evergrande, started mass production of its first electric vehicle — the NEVS 9-3 EV, which was shown in the northern Chinese municipality of Tianjin in December 2017. Photo: IC Photo

Real estate giant China Evergrande Group is betting big that China’s electric car sector will continue to boom, even as the subsidies that played a huge role in creating the market are getting phased out.

With the stated ambition of becoming the world’s largest new-energy vehicle company, Evergrande said it spent 14.1 billion yuan ($1.96 billion) on electric-vehicle (EV) projects in the first half. It says it plans to pump another 6 billion yuan into the area by year end.

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