On July 8th, Evergrande New Energy Automobile established a new company in Guangxi, Evergrande New Energy Automobile (Guangxi) Co., Ltd., with a registered capital of 654.38 billion yuan and legal representative Qin. The business scope includes technical research and technical development services related to new energy vehicles; Software product development and production; Information technology consulting services; Auto parts manufacturing and other businesses are wholly owned by Evergrande New Energy Automobile Investment Holding Group Co., Ltd.
On July 10, Evergrande New Energy Automobile also established Evergrande Hengchi New Energy Automobile Technology (Guangdong) Co., Ltd. with a registered capital of 500 million yuan and its legal representative is Zhou Bin. Its business scope is similar to that of the above-mentioned Guangxi subsidiary, and it is also wholly owned by Evergrande New Energy Automobile.
As early as June of 10, Evergrande Health announced that it would acquire 7.6% equity of NEVS/kloc-0 held by National Hyundai for US$ 379.5 million, and NEVS would become a wholly-owned subsidiary of Evergrande Health with 82.4% equity. It is reported that NEVS not only has the experience and ability to manufacture electric smart cars, but most importantly, NEVS is one of the ten enterprises approved by the National Development and Reform Commission of China and the Ministry of Industry and Information Technology, and has the "double license" that new forces dream of.
On June 1 1 day, the share price of Evergrande Health rose by 14.35% to HK$ 7.25 per share and closed at HK$ 6.93. As of the close of July 14, the share price of Evergrande Health was reported at HK$ 25.25 per share, with a cumulative increase of nearly three times and a total market value of over HK$ 200 billion.
Relevant persons believe that the rise of Evergrande Health's share price not only benefits from the rapid layout of its capital in the electric vehicle industry chain, but also benefits from the overall improvement of the electric vehicle industry this year, including the share prices of Tesla and Weilai Automobile, which all hit record highs.
According to statistics, there are currently 35 wholly-owned subsidiaries of Evergrande New Energy Vehicle, with a total investment of over 25.5 billion yuan.
At the end of 20 17, Evergrande started to set foot in new energy vehicles. Xu Jiayin has said that it will strive to become the largest and strongest new energy automobile group in the world within three to five years. In order to achieve this goal, Evergrande quickly completed the industrial chain layout of R&D and the manufacture of new energy vehicles, powertrains and power batteries through the way of "buying while buying".
Building a car also caused losses to Evergrande Group. In 20 19, the net loss of Evergrande Health was 4.426 billion yuan, of which the net loss of new energy automobile business was 3.3/kloc-0.0 billion yuan, nearly doubling year-on-year. Evergrande Health said in the announcement that the loss of new energy vehicle business was mainly due to the investment stage. However, at present, domestic innovative new energy automobile manufacturing enterprises have not yet reached the profit stage.
According to the plan of Evergrande Health, Evergrande's first car "Hengchi 1" will be unveiled this year, and it will be fully mass-produced in 20021year. The production bases in Guangdong and Shanghai will be completed and put into operation in the second half of this year, with a planned production capacity of 200,000 vehicles in the first phase. According to relevant sources, automobile manufacturing is a technology-intensive and capital-intensive industry. It remains to be seen whether Evergrande, as a latecomer, can quickly enter the fast lane of car-making and achieve "overtaking in corners" with abundant funds.