China Evergrande plans to shift main business to new energy vehicles - Securities Times

China Evergrande plans to shift main business to new energy vehicles - Securities Times

22/10/2021 4:38:00 PM

China Evergrande plans to shift main business to new energy vehicles - Securities Times

HONG KONG : China Evergrande Group will shift its main business to new energy vehicles within 10 years from property development, the state-backed Securities Times reported on Friday, quoting the developer's chairman Hui Ka Yan as saying.China's second-largest property developer will reduce its property s

HONG KONG : China Evergrande Group will shift its main business to new energy vehicles within 10 years from property development, the state-backed Securities Times reported on Friday, quoting the developer's chairman Hui Ka Yan as saying.China's second-largest property developer will reduce its property sales to about 200 billion yuan (US$31.31 billion) per year to overhaul its business, Securities Times reported.

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Its property sales reached more than 700 billion yuan in 2020, the report quoted Hui as saying.(US$1=6.3877 Chinese yuan renminbi)(Reporting by Twinnie Siu and Meg Shen, editing by Louise Heavens) Read more: CNA »

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