Financial Insights

Evergrande EV Unit rises 17% After Hui Pledges to Shift Business

The electric vehicle division of China Evergrande Group increased trading in Hong Kong
after the president of the indebted real estate giant said that making such cars would become its main business within a decade.

Its first electric car, “Hengchi”, will be shipped from its Tianjin plant early next year, according to an Oct. 11 statement on Evergrande’s website that included a “three-month war.”

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