The first 100 clients received their Hengchi 5 electric vehicles on Saturday, according to a statement on China Evergrande New Energy Vehicle Group Ltd.’s official Wechat account.
A plant in the northern city of Tianjin is where the business, a division of the massively indebted real estate developer China Evergrande Group, began producing the car last month.
Evergrande wants to make 1 million cars by 2025, and over the next ten years, it wants to switch the group’s main business from real estate to making cars.
It has stated that it will begin mass producing its third EV model in the second half of next year and its second EV model in the first half of 2023.
The sport utility car Hengchi 5 costs 179,000 yuan ($24,690.00).
$1 is equal to 7.2499 Chinese yuan renminbi.
