Evergrande Auto Confirms Exit from Vehicle Manufacturing: RMB182M Assets, RMB32.722B Liabilities
Evergrande Auto announced on September 17 that it confirmed the termination of vehicle manufacturing, completed its asset-light transformation, and that its domestic production bases have been disposed of or entered bankruptcy liquidation, with the entity at the Tianjin base receiving a court bankruptcy ruling. As of June 30, 2026, the company had assets of approximately RMB 182 million and liabilities of RMB 32.722 billion, and its shares remain suspended from trading. Its business retains Swedish NEVS automotive technical services and has added lithium-ion battery trading. This case shows that exiting heavy assets does not equal clearing debt risks, providing a reference for Chinese automakers' overseas plant construction and technology export.
34322 days ago
