Evergrande New Energy Vehicle Group (Evergrande NEV) announced that the first production vehicle of its first model, the Hengchi 5, has rolled off the assembly line. The Hengchi 5 electric SUV was released 12 days ahead of schedule. The company also posted a video of the production line at its Tianjin plant in northern China. Evergrande NEV launched the Hengchi brand in the summer of 2019 and introduced several models of electric vehicles, but the Hengchi 5 is the only one that has gone into production so far. The company has production plants in Guangzhou, Shanghai and Tianjin. The company’s plans for the Hengchi 5 electric SUV have not been reported in the local media, but according to the previous Evergrande NEV model plan, the vehicle is expected to hit the market in 2021. The electric SUV will be positioned as a compact SUV with a 150 kW engine. Its range will be about 700 kilometers. Details about the batteries have not yet been disclosed in the media.
Note that in October, Evergrande CEO Hui Ka Yan said that electric cars should become the company’s main business instead of real estate within ten years.