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Evergrande once again reaffirmed its determination to build cars. In the latest issue of the declaration catalogue of the Ministry of Industry and Information Technology, we have obtained the declaration chart of Hengchi 5 real cars. According to the declaration information, the production enterprise is Evergrande New Energy vehicle (Tianjin) Co., Ltd.

It is understood that Hengchi 5 is built by Japanese designer Gonggu Maruyama, positioning compact pure electric SUV, the front face using a closed grille, H-type through-type LED headlamps have a higher degree of recognition. From the side of the body, the car uses a black suspended roof design, with 21-inch rims, the overall visual effect is more coordinated. In terms of size, according to the declaration information, Hengchi 5's length, width and height are 4725/1925/1688mm and wheelbase 2780mm respectively. In terms of power, the new car uses a motor produced by United Automotive Electronics Co., Ltd., with a maximum power of 150kW. According to the model planning released by Evergrande, Hengchi 5 is positioned as an A-class SUV, which is an entry-level Hengchi model with a price of less than 200000 yuan, and will be marked with Audi Q3, BMW X1 and other models.

From the perspective of the exhibition car at the Shanghai Auto Show, the center console of Hengchi 5 adopts a connected screen design, which is divided into three screens, including the instrument, the central control and the big screen in front of the co-driver. In addition, the position of the control handrail in the new car is also equipped with multiple buttons, and the three-spoke multi-function steering wheel is also equipped with Hengchi LOGO.

Previously, it was rumored on the Internet that models with license plates of Hengchi 5 and Hengchi 7 conducted road tests without any camouflage. At that time, many netizens thought that Hengchi's so-called road test was suspected of showing off, in order to show the progress of its real car construction to the outside world. Now Hengchi 5 is declared by the Ministry of Industry and Information Technology for the first time, which means that the new car will soon be put on the market. Affected by the news, Evergrande Motor Hong Kong shares rose in the short term, up more than 10%. As of press time, Evergrande Motor rose 4.08% to HK $3.57, with a market capitalization of HK $34.88 billion.

Under the influence of the debt crisis of Evergrande Group, the mass production and launch of Hengchi's first model has attracted much attention. On October 11, the Evergrande Automobile Strategic Partnership Conference was held at the Tianjin production base. Evergrande President Liu Yongzhao said that Evergrande Automobile has launched a three-month battle to ensure that the first car of Evergrande will be offline at the Tianjin factory early next year. It is reported that the first offline model is Hengchi 5. It is understood that Evergrande will mobilize core R & D teams and technical elites from Shanghai, Guangzhou, Shenzhen and other places to support, and the Tianjin base has been transformed into a domestic first-class industrial 4.0 high-end intelligent factory.

Earlier, Hong Kong's South China Morning Post reported that Evergrande Group would launch its first batch of electric cars in 2022 with the help of local governments. Evergrande managers held meetings with partners and local officials in the coastal area of Tianjin, the report said. At the meeting, the person in charge of Tianjin Binhai High-tech Industrial Development Zone said that the local government will provide help to Evergrande.

Even so, there is still uncertainty about Evergrande's car building. Nearly five years have passed since Evergrande announced cross-border car construction, with a cumulative loss of more than 15 billion. According to the financial report in 2020, Evergrande's cumulative investment in new energy vehicles has reached 47.4 billion, of which 24.9 billion is used for the purchase of core technology and R & D investment, and 22.5 billion for plant construction. According to incomplete statistics, from 2018 to 2020, Evergrande's losses were 1.428 billion yuan, 4.426 billion yuan and 7.74 billion yuan respectively. Coupled with a loss of 4.822 billion yuan in the first half of this year, Evergrande's cumulative loss has exceeded 15 billion yuan.

In addition, Evergrande has recently had financial problems due to the influence of its parent company. On September 24, Evergrande issued an announcement saying, "in view of the group's liquidity problems, there are delays in the payment of suppliers and project payments in the living space of Evergrande Health Valley and new energy vehicles, resulting in the suspension of some related projects." As of the announcement, the Group has not made significant progress in striving for the resumption of work for some projects. Bedeo, an electric carmaker, has agreed to buy Protean Electric, a British start-up, from a subsidiary of Evergrande Group, according to Gesco. Evergrande confirmed the news on November 4, but did not disclose the terms of the deal. It is understood that Protean is a company under Guoneng Electric vehicle Sweden Co., Ltd. (National Electric Vehicle Sweden,NEVS), while Guoneng is a Swedish subsidiary of Evergrande New Energy vehicle. According to relevant data, Evergrande bought Protean for $58 million in 2019, which is one of a series of deals made by Evergrande to enter the field of electric vehicles.

In fact, Evergrande is currently facing two major problems. In the context of Evergrande Group's deep debt crisis, Evergrande's cash flow has been affected, and there may be some variables in the mass production and delivery of new energy vehicles, that is, the declaration has been completed in the Ministry of Industry and Information Technology. In addition, many netizens believe that even if Hengchi is listed in mass production, how many consumers will choose such a model? after all, there is no lack of excellent products in the compact car market, and even the level of 200000 yuan can already buy medium-sized cars. Hengchi how to attract consumers to choose their own products. In addition, this is closely related to the layout and services of the end market, which also requires a lot of financial support, such as NIO, Xiaopeng, ideal and other car brands as an example, there is a lot of capital export in this area. Although Evergrande Group is a domestic first-tier housing enterprise, the current situation is not as optimistic, that is, mass production and listing is difficult to make a profit in a short period of time, which continues to test the cash flow support of the group.

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