The last few months have been very convulsive for China's largest real estate company. The giant has gone through a very difficult stage after declaring considerable economic losses. Its car division has always been on the wire, positioning itself as one of the crown jewels. Somewhat removed from the controversy, China Evergrande New Energy Vehicle Group has begun a new stage.
Many rumors pointed to sale to third parties, however, Evergrandeno wanted to lose one of its largest assets. After an economic "boost" by the Chinese government, the Asian giant begins to see the light at the end of the tunnel. Early reports indicate that mass production of its first vehicles is already underway. In fact, they date to the start of the activity even before the date initially set. 12 days ahead of pre-established plans.
For years, Evergrande has been obsessed with being the world's largest producer of electric cars. In 2019, it estimated that it could produce more than a million electric cars a year, having invested more than 23 billion for this purpose. Obviously the situation has not been as expected, and it was not until the end of 2021 when it started production, at a still very discreet pace.
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The bet remains clear, and the Evergrande Group expects the division of electric vehicles to be their first source of income in 10 years. The step now taken is intended to strengthen investors by encouraging them to continue in the project. In order to give a boost to the moment, the company is expected to do an act on top of it in a few weeks, announcing with a hype that, in spite of the situation, it has managed to pre-empt the plans set. He wants to show his strength.
According to rumors collected by Reuters, production has begun with the Hengchi 5.SUV has had the privilege of being the first to start its journey, and has done so at Tianjin's facilities. For the time being, more details of how many units have been produced and whether there are any other models on the Assembly lines are not known. Doubts are supposed to be resolved with the company's official announcement in the coming weeks.
It's just a small step, but a very important step. Evergrande has made a huge investment in his car division, and although many rumors pointed to sale to third parties, finally the Chinese have managed to start the production stage. Only the future and investors will determine how this particular story ends. If everything follows the set course, the next one to go into production should be the Hengchi 7, the most autonomous berline that has already been shown at its test stage.