The Chinese company Evergrande NEV has emerged as a powerful new competitor in value with the apparent rise in the value of companies dedicated to the electric car industry in the market, such as the giant Tesla , which has gained an enviable position in China, Evergrande NEV , and this company is one of the most important Chinese companies Modern electric car industry.
China’s Evergrande NEV Corporation
The electric car race continues, with the Chinese company Evergrande NEV, the electric car maker that joined the world of electric cars recently, owned by Chinese billionaire Hui Ka Yan, who pledged to defeat Elon Musk in March 2019. He is also the owner of Evergrande, one of the largest real estate companies in China, and his company owns a group of Investments outside real estate such as sports clubs and tourist villages.
The market value of the Chinese Evergrande NEV
The company appears in a bold presence as it owns the electric start-up car manufactured by one of the largest booths at the Shanghai Auto Show. The current electric company’s market value reaches 87 billion dollars, equivalent to 326 billion riyals, which exceeds the market value of giant companies such as Ford and General Motors.
Shares of Hong Kong electric maker Evergrande have surged more than 1,000% over the past year, allowing it to raise billions of dollars in new capital.
The company will produce thousands of electric cars, and the owner of the company said that it will start trial production at the end of this year. Next year 2022, as it has not sold any car yet, and the company uses designers, engineers and external sources for development, such as the Canadian company Magna.
Chinese Evergrande NEV Cars Prices
The cars produced by the company fall under its Hengshi brand, which has announced 9 models of cars at once from this brand during the current Shanghai Auto Show in China, with prices ranging from 80,000 yuan to 600,000 yuan, equivalent to 46,000 riyals Saudi Arabia to 342 thousand riyals, which defies industrial norms because it must skip the production steps necessary to establish its brand.
It is common knowledge that modern companies that are trying to establish their brand reveal their cars at intervals, which is the opposite of what Evergrande did when it revealed 9 electric cars at once with a model in each car sector.
Its owner promised that it will become the largest maker of electric cars in the world in a period of 3 to 5 years, while it raised the ceiling of its ambition to deliver about 5 million cars during the year by 2035, while the production capacity of the giant electric Volkswagen company reached 3.85 million units in China in 2020.
The company is expected to reach the annual production ceiling capacity of about 500,000 to 1 million cars in March 2022 until 2025.
The company has been accused of making demands without smoothness from its employees as they are asked to help sell real estate by posting ads on social media, which is part of the performance indicators and they get rewards and incentives in return, and new employees are also required to attend seminars that focus on the history of The company in real estate.
The Chinese car market is the largest in the world, with 400 electric car companies competing at the moment, and this company will compete with many other electric companies, many of which are considered local emerging companies that have not made profits so far.
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