Property News · January 15, 2019

Evergrande Health pays US$930 million to buy control of carmaker in its foray into mass production of electric vehicles in China


Evergrande Group, China’s third-largest property developer by sales, has bought control of a producer of electric vehicles in the country, bolstering its founder’s ambition to diversify from real estate into the emerging industry of next-generation automobiles.
The developer will use its subsidiary Evergrande Health Industry Group to pay US$930 million for 51 per cent of National Electric Vehicle Sweden (NEVS), according to a statement to the Hong Kong stock exchange, where it is…

Source : South China Morning Post
Read more…Evergrande Health pays US0 million to buy control of carmaker in its foray into mass production of electric vehicles in China

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