China: Real estate giant Evergrande delivers its first electric cars











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BEIJING (Reuters) – China Evergrande New Energy Vehicle, a subsidiary of struggling property group China Evergrande, delivered the first 100 units of its Hengchi 5 electric car on Saturday, it said on its official Wechat account.

The company launched production of the vehicle last month at a factory in Tianjin, in the north of the country.

Evergrande wants to make the automobile its main activity, ahead of real estate, within ten years and aims for an annual production of one million vehicles in 2025.

The series production of its second electric model should begin in the first half of 2023, that of a third in the second half.

The Hengchi 5, an SUV, is sold at a price of 179,000 yuan (24,775 euros).

(Report Jenny Wang and Dominique Patton, French version Marc Angrand)










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