[NEVS] News & Updates

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.

1787 hours ago

August NEV Exports Up ~130%; 15th Five-Year Plan Targets 70% Passenger Vehicles

Data from CAAM show that in August 2026, China's new energy vehicle sales reached 1.643 million units, up 17.8% year on year, accounting for 60.6% of total vehicle sales. Of these, exports were 526,000 units, up about 130% year on year, while domestic sales were 1.118 million units, down 4.6% year on year, intensifying the divergence between domestic and external demand. During the same period, the Ministry of Industry and Information Technology and nine other departments issued the 15th Five-Year Plan for intelligent connected new energy vehicles, proposing that by 2030 new energy vehicles account for 70% of new passenger vehicle sales and 40% of new commercial vehicle sales, and strengthening capacity monitoring, mergers and reorganizations, and supervision of competitive order, which will continue to affect the pace of domestic consolidation and overseas expansion in the industry.

3303 days ago

NEVS

Evergrande Auto Confirms Exit from Vehicle Manufacturing: RMB182M Assets, RMB32.722B Liabilities

August NEV Exports Up ~130%; 15th Five-Year Plan Targets 70% Passenger Vehicles

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