Evergrande re-launched its efforts to enter new energy vehicles

2019-06-20

Evergrande re-launched its efforts to enter new energy vehicles Xu Jiayin, Chairman of the Board of Directors of Evergrande Group, is going to invest 160 billion yuan in Nansha District of Guangzhou to build three new bases for the new energy automobile industry. On June 11, the Guangzhou Municipal People's Government and Evergrande Group signed a strategic cooperation framework agreement. According to the agreement, Guangzhou and Evergrande Group will establish a comprehensive, in-depth and multi-field strategic cooperation relationship. Evergrande will be in Guangzhou. Vigorously deploy new energy vehicle industry. In the car manufacturing industry, Xu Jiayin has successively launched a number of large-scale acquisitions. The most recent one was on May 30, Evergrande Health (00708.HK) announced that Evergrande subsidiary NEVS and British wheel motor company Protean signed an agreement in London. Evergrande acquired the company in a combined way. Protean will merge Enter the Virtue Surge, a subsidiary of NEVS. Xu Jiayin previously announced that Evergrande will not be involved in other larger industries in the next five years, and the new energy automobile industry will be the leader of Evergrande. Since the beginning of 2019, Xu Jiayin has taken the fifth time to acquire related companies in the automotive business. On January 15, Evergrande Health announced that the company spent US$930 million to acquire a 51% stake in a Swedish-based global electric car company, NEVS, and won a majority of board seats. On January 24, Evergrande Health disclosed that Evergrande New Energy Power Technology (Shenzhen) Co., Ltd., a wholly-owned subsidiary of the company, entered Shanghai Kainai New Energy Co., Ltd. with a total power of 1.059 billion yuan, becoming the first with a shareholding ratio of 58.07%. Major shareholder. Five days later, Evergrande Health announced on the 29th that the company had invested in the Swiss super-running company Königsegger for 150 million euros. Evergrande said that the project companies established by Evergrande and Sweden will be committed to the development and production of the world's top new energy vehicles. On March 15, Evergrande Health announced that the company and Tianjin Tianhai Synchronous Group Co., Ltd., Hubei Tate Electromechanical Co., Ltd. and Hubei Taite Electromechanical Co., Ltd. Chairman Lu Chao entered into the equity transfer agreement, and the company acquired Tate Electromechanical for RMB 500 million. 70% of the company. The company holds the entire share capital of the Dutch e-Traction company. Up to now, Xu Jiayin's investment in the automotive industry has involved from the entire vehicle production, to the battery supply, to the dealers, covering almost the entire industrial chain of the automobile, the total investment has reached about 28.353 billion yuan. The development of the new energy automotive industry is inseparable from the demand for EV fuses.

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