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According to the Zhengzhou Daily, on February 26, Evergrande Group held a signing ceremony with Zhengzhou science and technology industry project. the projects at the signing ceremony were new energy vehicles and power batteries. Evergrande Group, Evergrande New Energy Tramway Group, Evergrande New Energy Technology Group and Zhengzhou Municipal people's Government are the signatories to this cooperation. It is understood that after the signing ceremony, Evergrande New Energy vehicle project will be settled in Zhengzhou, which is another major development of Evergrande marching into new energy vehicles after Evergrande established a subsidiary in Nansha.

According to statistics, Evergrande New Energy vehicles have invested 30 billion RMB in new energy vehicles since its establishment in Guangzhou on January 25, 2019, involving the battery industry, automobile distribution and production capacity and other automotive industries. Evergrande Health paid $930 million for a 51 per cent stake in NEVS, a Swedish electric car company, to acquire core technology. On January 24th, Evergrande bought 58.07 per cent of Shanghai Kanai New Energy, a tram company, for 1.059 billion yuan, and bought Koenigsag, a Swedish supercar company, for 150 million euros on January 29th.

2019 is a "money-burning" year for Evergrande Group, and there are still a lot of resources to be integrated in the early stages of unfinished model production. This time Evergrande Group complies with the work report of Zhengzhou Municipal Government in 2019, and with the help of policy, it may be a strategic step to reinvest in new energy vehicles.

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