Evergrande is bigger than most of us can grasp. Even though the company faces a lot of struggles when it comes to its real estate business, its cars division will finally be able to sell an all-electric SUV called the Hengchi 5. Here’s what you should know.
Evergrande got the world’s attention for the problems it had with building houses and huge towers that, apparently, nobody was buying or renting. The discovery almost caused a global financial meltdown and the company’s operations are still being kept under review by various stakeholders. But that didn’t stop indebted Evergrande from achieving its other dreams or, you know, from finding a new source of cashflow somewhere else.
The auto manufacturing division reportedly built the Hengchi 5 and all it needed to start sales was an approval from relevant Chinese authorities. It now has it, according to Reuters. As autoevolution previously told you, Evergrande vowed to beat Tesla. How and why weren’t mentioned, but the company said it was going to build reliable EVs with impressive range. At the moment, it has some catching up to do if the company is still keen on defeating Elon Musk.
For now, there’s only one EV that bears the Evergrande seal of production: the Hengchi 5. This SUV is “recommended for promotion” by China’s Ministry of Industry and Information Technology. This means customers can benefit from state subsidies and Evergrande will start selling the EV SUV in April. There’s not much known about the process or if the car’s any good, since nobody from Evergrande was available for a comment.
There’s some good news, though, as we know that Evergrande started building the Hengchi 5 ahead of the initially delayed schedule. The EV SUV is a compact model and benefits from technology developed by Germany’s Bosch. It can reach a maximum speed of 180 kph (111 mph) as it has only one electric motor capable of 150 kW (201 hp). It weighs 1,985 kg (4,376 lb). Prices have not yet been confirmed, but with the currently available details, it's fair to assume this will end up as an entry-level model. It should sit somewhere between $25,000-$35,000 in China.
If the vehicle's logo looks familiar to you, then you should know that Evergrande's auto manufacturing division began to take shape after the owner of what was left of Saab was bought by the Chinese company.
It might seem like everyone's building an electric car nowadays, but we shouldn't forget that these vehicles require fewer parts to make and are not that hard to maintain. With Evergrande's already big list of customers and a modest expected price range, it's hard to think this vehicle will flop.
Finally, the Hengchi 5 shouldn’t be confused with Hongqi. They’re totally separate entities.
Car shows on TV and his father's Fiat Tempra may have been Florin's early influences, but nowadays he favors different things, like the power of an F-150 Raptor. He'll never be able to ignore the shape of a Ferrari though, especially a yellow one. Full profile
Would you like AUTOEVOLUTION to send you notifications?
Google News