Evergrande New Energy Vehicle Group (Evergrande NEV), the electric vehicle (EV) division of China Evergrande Group, has released an over-the-air (OTA) update for its Hengchi 5 EV, despite announcing production risks two weeks ago. The update, which became available on April 3, includes the H-Pilot assisted driving system, 12 controller optimizations, 14 new features, and 25 functional optimizations. The H-Pilot system offers full-speed adaptive cruise control and lane-keeping on city streets and highways, as well as automatic emergency braking, cornering speed assist, and other safety features.
The OTA upgrade is part of Evergrande NEV’s commitment to providing a better driving experience for its customers. The company has also hinted that higher-level intelligent driving systems will be added in the future.
The Hengchi 5 is Evergrande NEV’s first production model, with deliveries starting on October 29, 2022. However, the company recently suspended mass production of the Hengchi 5 due to a lack of new orders. On March 23, Evergrande NEV warned of the risk of suspending production due to a lack of liquidity, leading to a trading suspension of its shares on the Hong Kong Stock Exchange since April 1, 2022.
Despite the production risk, the OTA update demonstrates Evergrande NEV’s ongoing commitment to innovation and customer satisfaction. The Hengchi 5’s new features and safety systems make it a competitive option in the EV market, with a starting price of RMB 179,000 ($26,010). As the company faces challenges, it will be interesting to see how it continues to innovate and adapt to the changing market.
