Does Evergrande really want to make cars? Not a single car has been produced, the company has suffered a loss of 4.8 billion yuan in half a year, and its market value has dropped by 80%.

In 2020, Evergrande Group officially announced its entry into the new energy vehicle industry and established China Evergrande New Energy Vehicle Co., Ltd.

In August 2020, Evergrande Auto unveiled six concept models, which are expected to be put into mass production this year. In February this year, Evergrande Auto unveiled three new models.

However, the mass production and listing of Evergrande Auto have been delayed. As of July this year, the market value of Evergrande Auto has fallen by 80%.

On the evening of August 9, Evergrande Auto issued a profit warning announcement, stating that the company's net loss reached approximately 4.8 billion yuan in the first half of 2021. Evergrande Auto said that this was because the new energy vehicle business was still in the investment stage and there were large expenditures on the purchase of fixed assets, equipment, and research and development.

At the same time, sources also revealed that Evergrande Group is discussing with state-owned and private enterprises about the sale of Evergrande Auto and Property equity.

This undoubtedly casts a shadow on Evergrande Auto's already somewhat unclear prospects.

In March this year, Evergrande Auto revealed at its 2020 annual performance conference that it has invested 47.4 billion yuan in the new energy industry, and plans to start trial production in the fourth quarter of this year and achieve mass delivery next year. Earlier, at the 2020 half-year performance conference, Evergrande Auto planned to start trial production in the first half of this year and mass production in the second half.

If the delay in production plans is still normal, then the shortage of funds is undoubtedly more worrying: Evergrande Auto has diluted its equity three times since its listing in September 2020. In the eyes of the outside world, this is a signal that Evergrande Group does not have sufficient funds. In addition, Evergrande Group is also under huge debt pressure, and there have been rumors that it is selling its real estate at a discount.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.