Realtor Evergrande Group to roll out first EV in June

Evergrande will try to become the largest and the most competitive new energy car company worldwide.

China’s leading real estate developer Evergrande Group will put its first electric vehicle in the market as early as June this year, online news portal tech.qq.com reported Sunday, citing announcements made by the company to its global partners.

Evergrande will try to become the largest and the most competitive new energy car company worldwide, said Xu Jiayin, chairman of the company, on the partners meeting held on Saturday in North China’s Tianjin. He added that his company has completed the whole industrial chain for building new energy vehicles.

Between Jan 15 and March 15 this year, Evergrande Health, which is 77.5% owned by Evergrande Group, gained major stakes in Swedish automaker NEVS, car battery producer Shanghai CENAT New Energy, set up a joint venture with Koenigsegg Automotive AB and took a controlling stake in Netherlands-based motor producer e-Traction.