Shares in Evergrande EV unit plunge as cash dries up

Shares in Evergrande EV unit plunge as cash dries up

Energy Daily

Published

Beijing (AFP) Sept 27, 2021

Shares in debt-laden Evergrande's e-vehicle unit slumped by more than 10 per cent Monday after the firm scrapped a proposed Shanghai listing, and with the property developer mired in a liquidity crisis. Evergrande is struggling with more than $300 billion of debt from a years-long acquisition binge, including into electric vehicles once billed as a rival to Elon Musk's dominant Tesla brand.

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