Evergrande’s Goal of Toppling Tesla Looks More and More Unlikely
This article is for subscribers only.
China Evergrande Group’s ambitious goal of toppling Tesla Inc. as the world’s biggest electric-vehicle maker is looking more and more unlikely after it pushed back trial production of cars until the end of this year.
As recently as last week, Evergrande said trial production may start in the first half of 2021. But on an earnings webcast late Wednesday, Evergrande’s billionaire chairman Hui Ka Yan said trial runs will now begin around the end of the year. Mass deliveries should start next year, he said.