EGRNF - Evergrande EV unit accepts thousands of pre-orders

China Evergrande New Energy Vehicle Group ( OTC:EVGRF ) has received more than 37K non-binding pre-orders for its new Hengchi 5 model, according to the company.

The company’s president Liu Yongzhuo said at an online event that the order thus far, just two weeks after beginning to accept orders, has exceeded expectations. However, it is worth noting that the non-binding pre-order necessitates a deposit payment of just 1,000 yuan.

The vehicle is expected to undercut competitors at a list price of approximately $23,878 to ensure strong initial sales for the EV unit connected to the heavily distressed real estate developer Evergrande ( OTCPK:EGRNF ).

Read more about the ongoing issues at the real estate arm .

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