Jan 08, 2024 07:17 PM

BUSINESS

Evergrande’s Electric-Car Unit Plunges After Vice Chairman Detained

By Kelsey Cheng

00:00

00:00/00:00

Listen to this article 1x

What’s new: Defaulted developer China Evergrande Group’s electric vehicle (EV) unit plunged in Hong Kong trading Monday after revealing its vice chairman had been detained.

China Evergrande New Energy Vehicle Group Ltd. said in a filing that Liu Yongzhuo, also an executive director, “has been detained in accordance with the law on suspicion of illegal crimes,” without providing further details.

Register to read this article for free.

Register

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Asia New Vision Forum Kicks Off in Singapore

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe

00:00

00:00/00:00

MOST POPULAR

1: Sinopec and Saudi Aramco Launch $10 Billion Petrochemical Venture in Fujian

2: Cover Story: How the Yuan is Taking Over the Dollar’s Role in Global Trade

3: Finance Movers and Shakers: Former Securities Watchdog Chief Yi Huiman Under Graft Probe

4: Hong Kong Moves to Ease Capital Rules for Banks Holding Licensed Crypto

5: China’s Regulator Ramps Up Push to Curb Food Delivery Subsidy War

SPONSORED

OR