Evergrande sees first trial vehicle roll off production line
Evergrande New Energy Vehicle $EVERG VEHICLE(00708.HK$ , the car-making arm of Evergrande Group, has seen its first production vehicle, the Hengchi 5, roll off the line, marking an important development in the car-making business for the debt-ridden property developer.
The vehicle is Hengchi 5 through-line commissioning vehicle 00001, according to Weibo car blogger @理想嘉-大D, who said the vehicle rolled off the line in silence and that Evergrande did not invite media to the site to mark the moment.
"There were rumors that the Hengchi model had to roll off the line in 2021 or else (Evergrande's) new energy (vehicle production) qualification would be withdrawn," he said.
The vehicle does not mean Evergrande's production line has SOP (start of production) capability, it is only a production task to adjust the production line equipment, d1ev.com reported.
On November 9, China's Ministry of Industry and Information Technology (MIIT) released a preliminary list of models that would be allowed to be sold, seeking public feedback until November 16.
The Hengchi 5 LX was listed at that time, containing the models HDE6470BEVA1F and HDE6470BEVA0F.
Appearing in the MIIT's catalog is the last major regulatory process for a model to be sold in China, usually only 4-6 months before the vehicle is officially launched.
However, both models disappeared from the final list released by the MIIT on December 8, for reasons that are not yet known.
On December 7, Evergrande New Energy Vehicle held a strategic partner meeting at its battery factory in Yangzhou, Jiangsu province.
The company's president, Liu Yongzhuo, said Evergrande New Energy Vehicle, as an independent listed company, is overcoming the negative impact and coming out of its darkest hour step by step.
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