Evergrande New Energy Auto, the electrical automobile unit of Chinese property developer Evergrande, incurred a loss of RMB 27.7 billion ($3.9 billion) in 2022 and RMB 56.3 billion ($7.9 billion) in 2021, in accordance with its announcement of annual outcomes launched on July 26. In April this 12 months, the corporate’s plant in Tianjin metropolis suspended manufacturing of its Hengchi 5 automobile attributable to lack of funds. In June, Evergrande Auto mentioned that it had resumed manufacturing and that over 1,000 autos had been delivered by the tip of May. [Evergrande Auto filing, in Chinese]
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