Maybe some observers had bet on faster development at Evergrande. But matters surrounding the new Hengchi car brand are still hesitant. The first product is late, the Corona crisis is also demanding its price here. After the complete takeover of NEVS and the former Saab Immobilien, Evergrande founds two more companies.
Am 10. Julie founded Evergrande in Guangdong the Evergrande Hengchi New Energy Automobile Technology Co. Ltd. Research and development as well as the production of auto parts and complete automobiles were registered as the subject of the company. The sole owner is Evergrande New Energy Automobile Investment Holdings Group. The share capital is half a billion yuan, which is equivalent to € 62,5 million.
Evergrande had founded another company two days earlier, based in Guangxi. It is called Evergrande New Energy Automobile and has a business purpose comparable to that of the new company in Guangdong.
Evergrande has several factories in China that manufacture electric cars and components under construction. In the first half of 1, the real estate developer wanted to present the first own vehicle, the plans are delayed. Hengchi as the final brand name seems set with the new foundation in Guangdong. Evergrande plans to launch a total of 2020 or 14 new electric cars. Some of them could be built in Trollhättan.
A difficult environment for new electric car brands
As a result of the Corona crisis, start-ups for electric cars are traveling in heavy waters worldwide. A prominent example of deferred plans is the Byton brand. The much-noticed company was considered to be full of opportunities and the jump to Europe was likely. With Carsten Breitfeld, a former BMW manager was at the helm, who could be trusted. Breitfeld left Byton in autumn 2019 and moved to Faraday Future. Another promising start-up that has been financed with money from China and is now becoming again. In the meantime, it was close to the abyss because Evergrande withdrew as an investor.
Byton will launch on July 1st Operation for now. The company was put into a kind of self-imposed hibernation until the market environment became more friendly. It is not certain whether it will ever wake up again. Just like the question of when the economic environment will be better for ambitious electric car plans.
Picture: Benteler (1/1)