Evergrande Wins Regulatory Approval to Start Selling EVs

What’s new: Debt-ridden China Evergrande Group’s carmaking unit has won regulatory approval to sell two electric vehicle (EV) models, according to a document (link in Chinese) issued by the Ministry of Industry and Information Technology (MIIT).

The two electric passenger vehicle models are under the brand name Hengchi (恒驰) and produced by Hong Kong-listed China Evergrande New Energy Vehicle Group’s factory in North China’s Tianjin.