When answering the question about Evergrande’s investment in vehicle building, Evergrande chief financial officer Pan Darong said that Evergrande had invested 14.7 billion yuan in 2019, 3 billion yuan in the first half of 2020, and will invest 2.7 billion yuan in the second half of the year, 9 billion yuan in 2021. After the mass production and sales of Evergrande vehicles, the Evergrande group will not invest anymore. So Evergrande’s total investment in cars will be 29.4 billion yuan. Pan also said that six new models of Heng Chi have been released and the production lines in Shanghai and Guangzhou have entered the commissioning stage. He believes that the balance of cash flow and profit will be realized soon.
