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A few days ago, Evergrande Health announced that the group recorded a net loss of about 1.4 billion yuan as of 2018. It was also explained that the Group's new energy vehicle segment is expected to record a net loss of about 1.7 billion yuan in 2018, as the Group undertook the 2018 investment Smart King Ltd through equity accounting. After that, it recorded losses and had to bear the relevant loan interest expenses and other expenses.

The marriage between Evergrande and Jia Yueting lasted only a year, and eventually the two sides broke up unhappily. On June 25, 2018, Evergrande acquired 100 per cent of Hong Kong Shiying for HK $6.746 billion, indirectly acquiring a 45 per cent stake in Smart King, making it the largest shareholder.

According to the plan, Evergrande has invested US $800m in FF, but later, as a result of the separation, Evergrande received a "32 per cent preferred stake in FF" and a "100 per cent holding in FF Hong Kong", which directly owns the Nansha site in Guangzhou. At the same time, Jia Yueting can buy back the 32%FF stake held by Evergrande within five years, and the buyback funds will increase year by year.

Evergrande did not stop there on the road to new energy vehicles, first taking a 65 per cent stake in NEVS, a Swedish electric car company, and forming a joint venture with supercar company Koeniger to develop and produce the world's top new energy vehicles, and then bought a 58 per cent stake in a battery company for 1 billion yuan. On January 25 this year, Xu Jiayin also invested 2 billion US dollars to set up Evergrande New Energy vehicle Co., Ltd., with a registered address in Guangzhou, Guangdong Province. Its business scope includes energy technology research, auto parts wholesale, automobile retail, energy technology consulting services, car rental and other businesses.

Evergrande new energy vehicles may be officially launched in the near future.

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