June 28, 2022

A Wednesday file through Chinese language media outlet Sina Tech alleged that Evergrande Auto has indefinitely not on time the pre-sale of its Hengchi 5 style, sparking heated on-line dialogue. That night, Evergrande Auto issued a remark denying the file.

“Suffering from the epidemic, the mass manufacturing agenda of the Hengchi 5 was once postponed from June 22 to September 20, and the pre-sale paintings is progressing typically,” Evergrande Auto stated within the remark.

In keeping with the company, on April 2, founder Xu Jiayin led a gaggle of executives to consult with Evergrande Auto’s revel in heart in Guangzhou, the place 3 Hengchi 5 fashions had been displayed. The Hengchi 5 is the primary mass manufacturing style of Evergrande Auto, and is located as a natural electrical SUV. The primary automotive was once effectively rolled off the manufacturing line on December 30, 2021, 12 days forward of the unique timetable.

The period, width and peak of the brand new automotive are 4725mm/1925mm/1688mm respectively, and the wheelbase is 2780mm. It is usually provided with a ferrous lithium phosphate battery supplied through home trade chief Fresh Amperex Generation Co., Restricted (CATL) and a pressure motor produced through UAES, giving it an NEDC cruising vary exceeding 700km. Its top energy and rated energy succeed in 150kW and 60kW respectively.

On April 30, Evergrande Auto formally introduced the recruitment of licensed brokers, and offered intimately the gross sales channel style, retailer construction requirements, and qualification necessities. It principally recruited licensed brokers in 18 towns, together with Beijing, Shanghai, Guangzhou, Shenzhen and Chengdu. On Would possibly 8, the primary spherical of recruitment of licensed brokers ended. In keeping with Chengdu Trade Information, some sellers have expressed a wait-and-see angle in opposition to the Hengchi emblem.

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Evergrande Auto’s automobile production procedure started in 2019. That yr, its mum or dad corporate Evergrande Staff got 51% fairness of NEVS, a Swedish electrical automobile corporate, for $90.3 billion, and in 2020, it spent $379 million in obtaining its closing fairness. As well as, Evergrande wholly got Protean, a British motor corporate. Therefore, Evergrande Auto began paintings associated with the design and R&D of vehicles. In August of final yr, six vehicles through Evergrande Auto had been unveiled, overlaying passenger vehicles, SUVs and MPVs.

SEE ALSO: Evergrande Auto’s Hengchi 5 Reportedly Receives 50,000 Orders

On the other hand, Evergrande Auto’s losses have persisted. In 2018, 2019 and 2020, the losses greater yr through yr, that have been 1.429 billion yuan ($211.4 million), 4.426 billion yuan and seven.394 billion yuan respectively. Within the first part of 2021, it additionally misplaced 3.822 billion yuan.