Interesting details of Evergrande Auto's production plans have been released. Pilot production will start in the brand's two main plants in the first half of 2021. Then everything should go very quickly. With Hengchi 1 and Hengchi 2 the conquest of the market begins. Or at least an attempt. Evergrande Auto is well on the way to becoming a major supplier.
With global ambitions.
At the start, production is limited to the plants in Shanghai and Guangzhou. Both factories are almost finished and built according to industry standard 4.0. They guarantee cost-effective production around the clock and vehicles of consistently high quality. The plant in Nansha, a district in Guangzhou, is already in trial operation.
The pre-series production of Hengchi 1 will begin in the first half of 2021. Series production is already planned for the second half of the year. Evergrande shines with its remarkably short development times. This is made possible by using the flexible Chassis architecture from FEV-Benteler. The Chinese acquired the exclusive rights to it in September 2019. In terms of successfully shortening development times, this investment is already paying off.
Evergrande is assuming only 10 months to develop a new electric car on this basis. If so, and the future will tell, Evergrande-Hengchi would have a leadership role in the auto industry.
The ambitions are enormous. With state-of-the-art factories and low-cost manufacturing, Evergrande will want to push masses of electric cars into the market. Starting in 2023, the company plans to produce a million cars a year, exclusively all-electric vehicles.
But still quiet in Trollhättan.
To underline the seriousness and irreversibility of this decision, the group renamed itself on August 26th from Evergrande Health Industry Group Limited to China Evergrande New Energy Vehicle Group Limited.
The share is now listed on the Hong Kong Stock Exchange under the new symbol “EVERG VEHICLE”. The HKG share ID: 0708 remained unchanged.
Action in China, rest in Trollhättan. There are no activities to report from the only European location. Investments in the systems are not visible, nor are any preparations for possible production. No vacancies and no activities that would suggest production on behalf of third parties in 2021.