Hengchi 5, a compact, fully electric SUV, is on the road in China. It is said to be the most advanced of all the vehicles newly developed by Evergrande. Ready for production if it ever comes down to it. But will Evergrande ever make cars? The situation is difficult and confusing. Because the Evergrande Group seems to be a master at hiding debts. A look at the state-controlled press helps.
Deception, trickery, manipulation
Anyone who deals with China cannot ignore the artful formulations of state press organs. Deciphering them is not always easy, because the Chinese work with subtle nuances that make all the difference. In the case of NEVS founder Kai Johan Jiang, who fell out of favor for a short time, it was so. Things are different at Evergrande.
One example, among many, is Caixin Global. A news organ that is so close to the state that Twitter feels compelled to mark the tweets with clear information. Caixin is a mouthpiece of the party and has been shooting at Evergrande and its founder for days. The press does not mince words and reports in an open manner that is not usual for China. There is a detailed talk of deception, trickery and camouflage and of hiding debts Auflistunghow Evergrande hid and postponed the debt until the last few months.
Evergrande's electric car adventure doesn't come off any better. Being of a manipulative intention berichtet, of deception and manipulation of the capital markets. In additional tweets, outrage about the carelessness of Hui Ka Yan is published, China is virtually pillorying the founder of Evergrande.
The end of car ideas, the many billions, social prestige and your own Airbus? It is possible. But not necessarily. In 2014, China NEVS founder Kai Johan Jiang (KJJ) banned because he got involved with the "wrong" friends. Back then it was about an explosion, corruption on a large scale, the reconstruction of NEVS and the unsuccessful start-up of production in Sweden.
The ban lasted six months. Then the pro-party press announced that KJJ was back and that they were sure that he would have learned from his mistakes and would not disappoint again. It cannot be ruled out that something similar will happen to Hui Ka Yan. And that, after a phase of bankruptcy or reconstruction, and the subsequent calming down, rehabilitation will follow and business will continue or will be newly founded.
Because, and one must not forget, Hui Ka Yan has so far been considered an exemplary soldier of the party and Evergrande implemented all suggestions from Beijing without criticism.
Back to Hengchi 5
The future of the compact electric SUV remains open. Although in this case you may not feel much regret about it. In contrast to the elegance that Hengchi 7 transported, number 5 is conventional.
An SUV in mainstream design that bears the daytime running lights signature of all Hengchi models, but is otherwise a nasty lump in the eye of a sophisticated beholder. Colored accents reveal a young, urban target group. Incidentally, Lynk & Co models have a similar accentuated design. They sell well.
So forget about elegance.