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Evergrande Partnering with 60 Suppliers for Hengchi EVs

Auto News - Published on Thu, 14 Nov 2019

Image Source: Evergrande
Chinese real estate titan Evergrande Group announced its strategic partnership with a total of 60 world's leading auto parts suppliers at the Evergrande New Energy Auto Global Strategic Partners Summit in Guangzhou on November 12. Evergrande launched its EV brand Hengchi in late August and the first Hengchi branded model Hengchi 1 will make its debut in the first half of 2020. The series production of vehicles across the entire lineup will start in 2021.

In the field of styling, Evergrande has strategically cooperated with 15 world-class design masters such as Michael Robinson, Andres Warming and Stephane Schwarz to create an unprecedented pioneering work in the world automotive industry.

In the field of parts supply chain, Evergrande signed with the world's top 60 auto parts companies such as Bosch, Magna, China, ZF, ThyssenKrupp, Jettage and BASF.

In the field of product planning, Evergrande teamed up with the top five automotive engineering technology leaders to simultaneously develop 15 new models based on the world's most advanced 3.0 chassis architecture, covering top-class, ultra-luxury, luxury, exclusive, comfortable and classic.

In the field of manufacturing, Evergrande will set up ten production bases in China, Sweden and the countries which will build high-end smart factories in accordance with Industry 4.0 standards, creating an unprecedented pioneering work in the world automotive industry.

In addition, only ten months after acquiring 51% stake in NEVS, Sweden-based EV manufacturer, its subsidiary Evergrande Health recently announced a further investment in NEVS with a capital amounting to roughly USD 3 billion.

Also to help steer product development, in late September, Evergrande New Energy Automotive Group, the group's EV arm, signed up five global auto engineering companies, including three German companies FEV Group, EDAG Engineering Group and IAV Group as well as Austria's AVL Group and Canada's Magna International. The engineering companies will help Evergrande New Energy Automotive design and develop 15 EV models, ranging from full-size luxury to midsize and classic vehicles, Evergrande Group said.

Evergrande Group has also signed agreements with local governments to build two major EV plants in the south city of Guangzhou and northeast city of Shenyang.

Source :

Posted By : Arun Huidrom on Thu, 14 Nov 2019
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