It has become quiet around Evergrande and the Hengchi brand. The real estate developer's crisis has put the ambitious plans on hold. The future is in question. The electric car mass production should actually start in January and the first vehicles should be delivered. Nothing more can be heard about that, but the manufacturer shouldn't be completely written off just yet. There are signs of life in China and once again one has to wonder what they could mean for Trollhättan.
Evergrande advertises jobs
Evergrande Auto has been bundling its automotive expertise in Tianjin for some time. The plant was originally built by NEVS. Today, at least visually, it belongs to Evergrande Auto - instead of the NEVS lettering, the Hengchi lion is emblazoned on the building. The plant is the only one in the Evergrande Empire capable of producing vehicles. With machines that were partly dismantled in Sweden. The other Evergrande works have not yet been completed due to lack of funds.
Around 100 new employees are being sought for the Tianjin factory, the positions have been advertised locally (application to firstname.lastname@example.org).
The restart of electric car production should be pending - report regional media. The question of viable financing is justified and cannot be answered at the moment. Evergrande's OEM partners are said to (allegedly) resume delivery, which had previously been discontinued.
The question of the production licenses is still open. Which has not yet been granted for any Evergrande vehicle.
In general, the job advertisements should be provided with a question mark. They could be an instrument to send a signal. Vacancies, or the will to increase staff, do not necessarily have to be associated with them.
NEVS and the change of ownership
The question of what the sign of life from Evergrande Auto means for Trollhättan is difficult to answer. NEVS is planning the Change of ownership, which would be easier to carry out if Evergrande were to bury the car plans. But it doesn't look like that yet, although it seemed for the last few weeks that not too much could come.
The share price of Evergande Auto (HK 0708) just languishes listlessly and shows no imagination for the future.
It seems that nothing is done yet and the change of ownership was only completed when the signature was dry and money had flowed. You can't bet on anything beforehand. The future of Trollhättan is still uncertain.