Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Suppliers Email this story   Print this story
 
Evergrande targets EV output of up to 1 million in 3 years
Bloomberg | 2019/3/25

Evergrande Health seeks to have production capacity of up to 1 million vehicles within three years as part of its efforts to become the world¡¯s largest electric car manufacturer, starting with the launch of an electric vehicle in June.

The China Evergrande Group unit said in a statement Friday that production of the EV "for the masses" would start at its Tianjin plant. Its description as a pure EV suggests the new vehicle won¡¯t be a hybrid.

The property-focused conglomerate has begun planning for new manufacturing hubs in Shanghai and Guangzhou that will push potential output to between 500,000 and 1 million vehicles, according to the statement.

Evergrande is the latest company looking to take on Tesla Inc. It has already spent more than $1.1 billion this year on an array of EV-related companies as part of its push into the EV market.

Evergrande Health¡¯s first electric car will use Saab¡¯s "Phoenix" platform as part of a vehicle lineup to be developed that will range from mid-price to luxurious, according to the statement. Evergrande Health moved to buy National Electric Vehicle Sweden AB, the owner of Saab Automobile assets, in January.


Related Stories
  • Karma to launch China sales in second half
  •     --Published:2019/19/4
     
  • Toyota sells EV tech to Chinese startup Singulato
  •     --Published:2019/16/4
     
  • VW plans Tesla-fighting electric crossover
  •     --Published:2019/16/4
     
  • Automotive Energy Supply targets EV makers with first China battery plant
  •     --Published:2019/16/4
     
  • China's $18 billion EV bubble at risk of bursting
  •     --Published:2019/16/4
     
  • Geely launches electric vehicle brand Geometry
  •     --Published:2019/12/4
     
  • China EV startup Bordrin skips flash, keeps real-car focus
  •     --Published:2019/9/4
     
  • U.S., in new EV supply chain push, sets sights on China
  •     --Published:2019/9/4
     
  • Daimler, BMW to limit scope of venture to affordable China EV, report says
  •     --Published:2019/5/4
     
  • Chinese brands, unfazed by lower subsidies, prep more EVs
  •     --Published:2019/5/4
     
  • Chinese EV startup Nio restricts its IPO banks from working for rivals, sources say
  •     --Published:2019/2/4
     
  • MG launches first EV in China
  •     --Published:2019/2/4
     
  • What's behind Beijing's steeper-than-expected cuts in EV subsidies?
  •     --Published:2019/29/3
     
  • Daimler to recast Smart with Geely as China-based EV brand
  •     --Published:2019/29/3
     
     

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     

     
     

    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
     
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.
    »¦ICP±¸06057291ºÅ