The company has dabbed into the NEV business since 2019.
Evergrande
China's most indebted company Evergrandes' (3333:HK) NEV subsidiary, Hengchi, has declared that the rumour announcing an indefinitely postpone in the presales of electric cars was fake.
Hengchi revealed that due to the Covid-19 restrictions, the production of its first model Hengchi 5 would be delayed three months later to September 22, 2022 and the presale work is progressing smoothly.
''The company has produced Hengchi 5 and planned to presale it in the second quarter this year,'' a person familiar with the matter told nbd.com, a Chinese media firm.
Hui Ka Yan, Chairman of Evergrande Group, emphasized that "the mass production of Hengchi 5 must be realized on June 22" in a mobilization meeting in March.
At the same time, the company also started to build sales channels and recruit staff in over 15 cities, Beijing included. According to the released plan, Hengchi will establish 36 Hengchi exhibition centers and 1600 sales centers.
Apart from self-owned stores, Evergrande launched the first round of public recruitment of authorized agents nationwide on April 30.
Based on the real estate tycoon's scheme, the company expects to produce and sell more than 1 million NEVs by 2025. By 2035, Hengchi will deliver more than 5 million cars.
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