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Chinese Billionaire's Evergrande Completes First NEV Supply Chain to Deliver Worldwide
XU WEI
DATE : MAR 18 2019/SOURCE : YICAI
Chinese Billionaire's Evergrande Completes First NEV Supply Chain to Deliver Worldwide
(Yicai Global) March 18 -- Chinese property giant Evergrande Group will start producing its first electric vehicle this June to deliver across the globe.
Evergrande has completed its supply chain for new energy vehicle production and it will strive to become the world's largest and most powerful NEV group in a range of three to five years, state-backed Xinhua News Agency reported yesterday, citing Chairman Xu Jiayin who was speaking at a car summit. Xu is China's richest property developer, with a net worth of CNY250 billion (USD37.3 billion).
The Shenzhen-based firm has been accelerating its auto investment this year with the latest acquisition of Dutch TeT Drive Technology, which owns e-Traction brand of in-wheel motors. Last January, Evergrande bought a majority stake in NEVS, the parent of Saab brand, followed by a 20 percent stake in Swedish electric sports car firm Koenigsegg Automotive. It also took control of Shanghai battery maker Cenat New Energy, which boasts advanced Japanese technologies.
Last April, Evergrande Health became the biggest shareholder of Jia Yueting's Faraday Future but the partnership fell through at the end of last year due to disagreements related to Jia's tattered credit record in China and a funding schedule.
https://www.yicaiglobal.com/news/ch...s-first-nev-supply-chain-to-deliver-worldwide
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China's Evergrande Sets Up NEV Charger, Takes Control of Saab's Owner
LIAO SHUMIN
DATE : JAN 16 2019/SOURCE : YICAI
(Yicai Global) Jan. 16 -- Evergrande Hi-Tech Group set up new unit Evergrande Smart Charging Technology with registered capital of CNY100 million (USD14.8 million) on Jan. 2, the Qixinbao corporate credit information lookup app operated by Suzhou Berta Data Tech shows.
The business scope of the new branch includes new energy vehicle charging piles, software technology research and development and charging facility design and operating services.
Another Evergrande unit has taken a 51 percent stake in National Electric Vehicle Sweden, Guangzhou-based Evergrande Health said in a statement yesterday. NEVS bought Saab Automobile out of bankruptcy in 2012. Both are based in Trollhattan, Sweden.
Investors welcomed the potential shift of the property firm's business focus, pushing Evergrande Group's shares [HK:3333] to gain 3 percent yesterday.
https://www.yicaiglobal.com/news/china-evergrande-sets-up-nev-charger-takes-control-of-saab-owner
XU WEI
DATE : MAR 18 2019/SOURCE : YICAI
Chinese Billionaire's Evergrande Completes First NEV Supply Chain to Deliver Worldwide
(Yicai Global) March 18 -- Chinese property giant Evergrande Group will start producing its first electric vehicle this June to deliver across the globe.
Evergrande has completed its supply chain for new energy vehicle production and it will strive to become the world's largest and most powerful NEV group in a range of three to five years, state-backed Xinhua News Agency reported yesterday, citing Chairman Xu Jiayin who was speaking at a car summit. Xu is China's richest property developer, with a net worth of CNY250 billion (USD37.3 billion).
The Shenzhen-based firm has been accelerating its auto investment this year with the latest acquisition of Dutch TeT Drive Technology, which owns e-Traction brand of in-wheel motors. Last January, Evergrande bought a majority stake in NEVS, the parent of Saab brand, followed by a 20 percent stake in Swedish electric sports car firm Koenigsegg Automotive. It also took control of Shanghai battery maker Cenat New Energy, which boasts advanced Japanese technologies.
Last April, Evergrande Health became the biggest shareholder of Jia Yueting's Faraday Future but the partnership fell through at the end of last year due to disagreements related to Jia's tattered credit record in China and a funding schedule.
https://www.yicaiglobal.com/news/ch...s-first-nev-supply-chain-to-deliver-worldwide
***
China's Evergrande Sets Up NEV Charger, Takes Control of Saab's Owner
LIAO SHUMIN
DATE : JAN 16 2019/SOURCE : YICAI
(Yicai Global) Jan. 16 -- Evergrande Hi-Tech Group set up new unit Evergrande Smart Charging Technology with registered capital of CNY100 million (USD14.8 million) on Jan. 2, the Qixinbao corporate credit information lookup app operated by Suzhou Berta Data Tech shows.
The business scope of the new branch includes new energy vehicle charging piles, software technology research and development and charging facility design and operating services.
Another Evergrande unit has taken a 51 percent stake in National Electric Vehicle Sweden, Guangzhou-based Evergrande Health said in a statement yesterday. NEVS bought Saab Automobile out of bankruptcy in 2012. Both are based in Trollhattan, Sweden.
Investors welcomed the potential shift of the property firm's business focus, pushing Evergrande Group's shares [HK:3333] to gain 3 percent yesterday.
https://www.yicaiglobal.com/news/china-evergrande-sets-up-nev-charger-takes-control-of-saab-owner
