Evergrande New Energy Auto, the electric vehicle 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, according to its announcement of annual results released on July 26. In April this year, the company’s plant in Tianjin city suspended production of its Hengchi 5 vehicle due to lack of funds. In June, Evergrande Auto said that it had resumed production and that over 1,000 vehicles had been delivered by the end of May. [Evergrande Auto filing, in Chinese]
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