EV giant hasn t sold a single car
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published : 20 Apr 2021 at 09:50 The Hengchi 1 will go up against Tesla s Model S. (Photo: AFP)
SHANGHAI: China Evergrande New Energy Vehicle Group Ltd s expansive pop-up showroom sits at the heart of Shanghai s National Exhibition and Convention Center. With nine models on display, it s hard to miss.
The electric car upstart has one of the biggest booths at the 2021 Shanghai Auto Show, opposite storied German automaker BMW AG. Yet its bold presence belies an uncomfortable truth Evergrande hasn t sold a single car under its own brand.
China s largest property developer has an array of investments outside of real estate, from soccer clubs to retirement villages. But it s the recent entry into electric cars that s captured investors imaginations.
China s $87 Billion Electric-Car Giant Hasn t Sold a Vehicle Yet
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China s $87 Billion Electric-Car Giant Hasn t Sold a Vehicle Yet
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Hon Hai revenue jumps 44 percent
Bloomberg
IPhone assembler Hon Hai Precision Industry Co’s (鴻海精密) first-quarter revenue jumped 44.49 percent on robust demand for Apple Inc’s new 5G devices and other gadgets that help consumers stay connected at home during the COVID-19 pandemic.
Revenue in the three months through last month rose to NT$1.34 trillion (US$47.04 billion), from NT$929.68 million a year earlier, but dropped 33.1 percent from a quarter earlier, the firm reported yesterday.
The results were in line with analysts’ average estimates.
A worker looks out through the logo at the entrance of the Foxconn Technology Group complex in Shenzhen, China, on May 27, 2010.