China Evergrande Group, one of the world's top 500, announced Tuesday that it 
plans to invest a total of 45 billion yuan (about 6.42 billion U.S. dollars) in 
its new energy vehicle (NEV) sector over the next three years.

Photo - https://photos.prnasia.com/prnh/20191113/2641325-1-a

Evergrande Tuesday held a NEV global strategic partnership summit in Guangzhou, 
capital city of south China's Guangdong Province, attended by more than 1,100 
CEOs and executives of 206 leading companies in the world's automobile design, 
manufacturing equipment, components, motors and battery sectors.

Photo - https://photos.prnasia.com/prnh/20191113/2641325-1-b

Hui Ka Yan, chairman of the company, revealed at the summit that his company 
will lay out ten production bases in China, Sweden and countries along the Belt 
and Road, and simultaneously develop 15 new models, covering all grades and 
vehicle types.

Evergrande is expected to roll out its NEV "Hengchi 1", in the first half of 
next year, and the full range of products under "Hengchi" will be fully 
mass-produced from 2021, Hui added.

Photo - https://photos.prnasia.com/prnh/20191113/2641325-1-c

At the summit, Evergrande signed strategic cooperation agreements with the 
world's top 60 auto parts companies such as Bosch, Magna and ThyssenKrupp, 
marking its establishment of the world's top and huge auto parts supply chain 
system.

Photo - https://photos.prnasia.com/prnh/20191113/2641325-1-d

The strategic cooperation between Evergrande and the global auto giants comes 
just at the right time, said Wen Guohui, mayor of Guangzhou City, adding that 
Guangzhou will do its utmost to provide the most convenient, efficient and 
high-quality service and become the best platform for Evergrande and the global 
auto giants to achieve greater development.

Photo - https://photos.prnasia.com/prnh/20191113/2641325-1-e
Photo - https://photos.prnasia.com/prnh/20191113/2641325-1-f

Stefan Pischinger, CEO of FEV Europe GmbH, Cosimo De Carlo, CEO of EDAG 
Engineering Group AG, and Silvio Pietro Angori, CEO of Pininfarina S.p.A., all 
expressed their bullish views on the development prospects of Evergrande's NEVs 
and their confidence in working with Evergrande to create world-class quality 
NEVs, when delivering speeches at the summit, which, with 13 of the Fortune 
Global 500 companies at presence, is regarded as a big event of the world's 
automobile industry.

Earlier on October 15, Evergrande cooperated with 15 top design masters around 
the world to form a strong car design team.

It also signed strategic cooperation agreements with five world-leading 
automotive engineering technology enterprises on September 25 to further 
optimize its industrial chain layout in the NEV field.

Please see original release: https://en.imsilkroad.com/p/309333.html 

Source: Xinhua Silk Road Information Service