Chinese automaker Evergrande began mass production for the first time on Thursday, December 30, 2021, Reuters reports.
Mass production of the Hengchi 5 model is carried out at the Tianjing assembly facility. A Reuters source said mass production of the Hengchi 5 started 12 days ahead of the company's original schedule.
Even though it has started its first production, Evergrande is said to be officially celebrating in the next two weeks.
Previously, Evergrande has introduced several electric vehicle models, but none have been mass-produced.
Evergrande said in November that it had been negotiating with potential buyers about divesting some of the company's assets and talking to potential investors to raise funding to be used to develop electric vehicles.
Sales of new energy vehicles (NEV) aka electric cars in China soared last November.
According to the China Passenger Car Association (CPCA), sales of electric cars are driving the auto market in China to accelerate its green transition.
In November2021, a total of 378,000 electric cars were sold in China, a 122.3 percent jump over the same period 2020. Data from the CPCA showed sales grew nearly 20 percent compared to last October.
Sales of electric cars in January-November 2021 in China jumped 178.3 percent compared to 2020 with 2.51 million units.
Automakers in China had strong wholesale sales last November. Fourteen of them have car sales of more than 10,000 units.
According to the CPCA, last November China's largest electric car maker, BYD, achieved car sales of 90,546 units per month. While the Chinese Tesla 52,859 units.
China's exports of electric car NEVs are also strong. China's Tesla exported 21,127 electric cars in November. Meanwhile SAIC Motor exported 6,110 units, the Xinhua News Agency reported.