Electric Car Struggles Are Yet Another Problem for Evergrande

Welcome to the Hyperdrive daily briefing, decoding the revolution reshaping the auto world, from EVs to self-driving cars and beyond.

A little over two years ago, Hui Ka Yan, the billionaire founder of China Evergrande, brimmed with confidence as his company’s electric-vehicle arm vowed to challenge Tesla as an industry leader. As recently as April, the unit was worth more than Ford — and all before it had sold a single mass-produced car under its own brand.