Hyperdrive
Weak China EV Makers’ Future Outlook to Become Even Bleaker
A yet to be opened showroom for China Evergrande New Energy Vehicle Group Ltd. in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
The future for two of China’s worst-selling electric-car companies just got even bleaker.
China Evergrande New Energy Vehicle Group Ltd., was dealt a setback by Dubai-based NWTN, a company that had agreed just two months earlier to invest $500 million. Last week, NWTN suspended support payments to the EV maker, which is affiliated with one of China’s most troubled property developers.