A view of the electric vehicle factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021. Picture taken October 20, 2021. REUTERS/Yilei Sun/File Photoelectric vehicle unit plans to lay off 10% of its workers, a source familiar with the matter said on Friday.also plans to suspend salary payments to 25% of its workers for between one and three months, the source said.
The EV unit is key for Evergrande, once China's top-selling developer and now at the centre of the country's property crisis. Chairman Hui Ka Yan has vowed to shift the group's primary business within 10 years from real estate to the automobile venture, which has itself struggled for capital.
It’s about to collapse with the decline of the housing market globally🤡
AWESOME 😊 the more their economy fails and their people revolt the better for everyone including the people of China. Now if the U.S., U.K., E.U., Canada, Australia and others would strongly denounce China and impose serious sanctions organized Chinese revolts could succeed.
Eversmaller?