- Evergrande Group, China’s second-largest real estate developer by sales, has shown its ambition in the electric vehicle business with billions dollars of investments.
- The company also poured 14.4 billion yuan into Xinjiang Guanghui Industry Investment Group for access to its auto sales network.
- Evergrande also signed an agreement with the Guangzhou city government this week to invest 160 billion yuan to build factories to produce 1 million electric cars and 500 GWh of batteries a year.