Evergrande is aiming to shift the group’s primary business from real estate to the automobile venture over the next decade, with plans to make 1 million vehicles by 2025.
It has said it would start mass production of its second EV model in the first half of 2023 and a third in the latter half of next year.
The Hengchi 5 sport-utility vehicle sells for 179,000 yuan ($24,690.00).