AutoBeta(AutoBeta.net)06/02 Report--

According to an equity transfer transaction notice disclosed by the Shanghai United property Exchange, the target of the transfer is 20% of the shares of Hengdaneng New Energy Automobile (Shanghai) Co., Ltd., the target of the transfer is 442.8200014 million yuan, and the final transaction price is 442.8200014 million yuan. But the receiver did not announce it.

According to the inquiry, the above-mentioned project was listed for transfer on the official website of the Shanghai United property Exchange on December 12, 2019. The target is a 20% stake in Hengdaneng New Energy vehicle (Shanghai) Co., Ltd., with a base price of 443 million yuan. The transaction was officially concluded on June 1, 2020.

According to public information, the earliest cooperation between Hengda and Shanghai Songjiang was in February 2018, when the Songjiang District Government of Shanghai signed an investment cooperation agreement with Guoneng Electric vehicle Sweden Co., Ltd. In May of the same year, Evergrande Guoneng New Energy vehicle (Shanghai) Co., Ltd. was officially established with a registered capital of 2.5 billion yuan, 80% owned by Tianjin Evergrande Guorui New Energy Technology Co., Ltd., and 20% held by Shanghai Songjiang Economic and technological Development and Construction Group Co., Ltd., which is a local state-owned enterprise of Shanghai State-owned assets Supervision and Administration Commission and the transferor of the subject.

Since parting ways with Jia Yueting's FF, Evergrande has stepped up its determination to pursue the new energy vehicle industry. Evergrande Health became the largest shareholder in January 2019 when it bought a 51 per cent stake in NEVS, an electric car company, for $930 million. On February 20th, the company changed its name to Evergrande National Energy New Energy Group Co., Ltd.

In August 2019, Evergrande officially launched its new energy vehicle brand, Hengchi, which is the first step in the construction of new energy vehicles. Then at the Evergrande New Energy vehicle Summit on November 12, Xu Jiayin, chairman of Evergrande Group, said it would take three to five years to become the largest and most powerful new energy vehicle group in the world. Evergrande's three-year investment budget for new energy vehicles is 45 billion, with an investment of 20 billion in 2019, 15 billion in 2020 and 10 billion in 2021. At the same time, it will also work with top sports car brand Koenigsegg to produce 1000 supercars a year.

Evergrande expects to produce more than 1 million vehicles a year in 2-3 years and more than 5 million in 10-15 years. It is understood that the first model of Hengda New Energy Hengchi-"Hengchi 1" will be unveiled in the first half of the year, and the full range of Hengchi products will be fully mass produced from 2021. However, from the current point of view, the first mass production car has not been reported so far. There are a lot of variables in the first half of the year.

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