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Evergrande seeks permission to sell cars

Evergrande NEV has sought approval from Chinese authorities to sell its SUV Hengchi 5, Reuters reports. The subsidiary of troubled real estate developer plans to produce its first EV early next year. As recently as September, the company said it was still looking for new investors and wanted to sell assets. Allegedly, its financial situation is so dire that, without investors, it would face difficulties paying wages and other expenses. Nevertheless, the company plans to start production in the spring of 2022. According to Reuters information, the Hengchi 5 has already finished driving tests within Evergrande’s factory. However, whether the model is already ready for series production was not mentioned. nib

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