As China Evergrande Group struggles with a financial crisis, the property developer’s electric car unit is offering little relief, saying that its ballooning first-half loss may force it to delay the start of mass production.
In early August, shares of Evergrande NEV rose 8% after Reuters reported that its parent is in talks to sell stakes in the carmaker as well as a property management unit.
Evergrande now has a 20% stake in Faraday Future.