Evergrande announces another groundbreaking! The go-ahead for the construction of an additional factory was given on May 22. The plant will be built in Huzhou, Zehjiang Province. It produces electric drives for the expected electric cars from the Evergrande Group. In addition to manufacturing, research and development facilities for autonomous driving are also to be created. Completion and start of production are expected in early 2021.
Once completed, the new plant will cover an area of 300.000 square meters. According to Evergrande, the investment should be around $ 2.1 billion be. The focus is on the integration of battery systems, electric drives and autonomous driving. Up to 500.000 electrical drive systems are expected to be produced in Huzhou each year. Evergrande is building the group's first component plant in the southeastern province. Further production sites are being completed.
So far 5 plants for electric cars under construction or completed
At the same time, Evergrande announced that the two plants under construction in Nansha (Guangzhou) and Songjiang (Shanghai) will be completed by the end of the year. It is planned to start operating from 2021 with an annual capacity of 200.000 vehicles. Other production facilities that are in the process of being created or expanded are located in Tianjin and Lianonig. Here, too, the group claims to be on schedule with the work. In cooperation with Trollhättan, the only European plant to date, the aim is to have an annual capacity of 1 million electric vehicles.
The presentation of the Evergrande Group's first completely new electric car for the first half of 2020 remains unchanged. It is said to have the name Hengchi 1. It is not yet clear whether the term will be used worldwide or only in China. A different naming for markets outside the home country would also be possible, and by no means surprising.