Evergrande Motor released the latest quarterly update announcement today.
It is said that “Hengchi 5” has resumed production in May, and as of the end of May, more than 1,000 new cars have been delivered.
At present, Evergrande Automobile Group is still facing the difficulty of shortage of funds. The management of the company is continuing to promote cost-saving measures, actively explore financing channels, and try its best to maintain the continuous operation of the Group.
Referring to previous report, Hengchi Automobile’s Tianjin factory resumed full production on May 23.
Liu Yongzhuo, president of Hengchi Automobile, said that the company will spare no effort to speed up the production and delivery of Hengchi 5, and continue to promote the R&D and production of subsequent models, so as to make the enterprise bigger and stronger and make due contributions to the economic development of Binhai New Area and even Tianjin.
On April 24 this year, Hengchi officially announced that due to insufficient funds, the Tianjin factory suspended the production of Hengchi 5. In addition, it is proposed to sell the issued shares of two subsidiaries, namely Huibao and FlamingAce, which hold 47 wellness space projects, to China Evergrande for a consideration of RMB 2.
In August 2020, Evergrande Automobile Group released the first six models of Hengchi simultaneously in Shanghai and Guangzhou. Hengchi 1, Hengchi 2, Hengchi 3, Hengchi 4, Hengchi 5, and Hengchi 6 were officially unveiled, covering Passenger car models such as sedans, coupes, SUVs, MPVs, and crossovers. Among them, the Hengchi 5 will officially roll off the Tianjin factory in early 2022, and there is no information on the other five planned models. According to the information disclosed by Evergrande Automobile, as of April 24, Evergrande Automobile has delivered more than 900 units of Hengchi 5 to customers. In November 2019, Xu Jiayin, Chairman of the Board of Directors of Evergrande Group, made a bold statement that by 2025, the annual. The production and sales will exceed 1 million vehicles, and the annual production and sales will exceed 5 million vehicles by 2035. Evergrande will become the largest and most powerful new energy vehicle group in the world.
