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The Wall Street Publication > Blog > Markets > China Evergrande’s EV Unit Taps Investors Ahead of First Car Sales
Markets

China Evergrande’s EV Unit Taps Investors Ahead of First Car Sales

Editorial Board Published November 10, 2021
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China Evergrande’s EV Unit Taps Investors Ahead of First Car Sales
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SINGAPORE— China Evergrande Group ’s cash-strapped automotive business is raising money to commercially produce its first electric vehicles.

The Hong Kong-listed business, China Evergrande New Energy Vehicle Group Ltd. , on Wednesday said it plans to raise the equivalent of around $63 million from stock sales to improve its financial position and fund production as well as research and development.

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