A share sale plan between China Evergrande New Energy Vehicle Group and US-listed NWTN has lapsed, according to a Hong Kong stock exchange filing on Monday.
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By P.R. Venkat China Evergrande New Energy Vehicle said an agreement for a Dubai-based automaker to subscribe to its shares has expired, raising fresh doubts.
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As neither party agreed on the extension of the long stop date, which is the last day of 2023, Evergrande New Energy Vehicle said the share subscription and loan conversion subscription agreement by NWTN are no longer valid.