Evergrande’s New Energy Vehicle Unit Surges 113% On A Possible Buyer

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EV,Innovation,China

I cover Chinese billionaires, and help to compile the China Rich List as well as Under30 list in Asia. I contribute to Forbes, and previously I freelanced for SCMP and Nikkei. Prior to Beijing, I spent six months as an intern at TIME magazine's Hong Kong office. I am a graduate of the Medill School of Journalism, Northwestern University.

The logo for Evergrande Group's new-energy vehicle brand Hengchi is displayed outside a showroom in Beijing.Shares in China Evergrande New Energy Vehicle Group surged in resumed trading Monday after a potential buyer emerged.

Kenny Ng, a Hong Kong-based securities strategist at Everbright Securities International, said investors were encouraged by the idea of new ownership. According to the filing, the buyer may also provide a line of credit to support Evergrande New Energy Vehicle Group’s continuing operation.

 

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