Evergrande invests in energy storage

Is Evergrande the biggest real estate company in the world?

Evergrande, a Chinese firm believed to be the biggest real estate company in the world and backers of electric vehicle startups like Faraday Future and NEVS, announced a massive $23 billion investment in the production 1 million electric cars and 500 GWh of batteries per year.

Is investing in Evergrande a good decision?

According to Cheng, investors would only be reassured when Evergrande takes meaningful and feasible actions, such as disposing of some assets, to improve its access to bank financing. Based in Hong Kong, Cheng covers the property market in the city and China and follows major listed developers.

Will Evergrande invest 160 billion yuan in Guangzhou?

“Evergrande aims to invest 160 billion yuan in Guangzhou’s Nansha district to set up three major bases for new energy vehicles, according to a statement the Nansha local government sent to the Global Times Wednesday. One of the bases will have the capacity to manufacture 1 million vehicles annually.

Is Evergrande a danger for international investors?

A case study of the rise and fall of Evergrande might shed light on the real danger for international investors behind the trumpeted China opportunities. The case of Evergrande drama A few weeks ago, the suicide of the founder and chairman of Evergrande became big news in China’s internet community.

Will Evergrande expand into electric vehicles?

With a valuation at more than $100 billion and revenues of over $40 billion, Evergrande is now looking to expand into electric vehicles. They have been making moves in the space for years with a large stake in Faraday Future for $2 billion and another $2 billion to take control of NEVS, SAAB’s all-electric successor.

Is China Evergrande looking for strategic investors?

The company, an electric vehicle (EV) unit of debt-laden property developer China Evergrande, said that it is still looking for strategic investors as it seeks solutions to stabilize operations and address its liquidity crisis.