Evergrande woes hit Sweden as EV unit seeks buyerMISSED SALARIES: The Swedish owner of an electric vehicle factory in Tianjin has laid off nearly half of its employees as Evergrande has ceased financing the plantBloombergChina Evergrande Group’s financial woes have spilled over to Sweden, with a unit of the company’s electric vehicle (EV) arm in talks to find new backers after cutting 300 jobs. “I’m acting as if things won’t be working out with Evergrande,” Stefan Tilk, the CEO of National Electric Vehicle Sweden AB, also known as NEVS, said in an interview. A China Evergrande New Energy Vehicle Group Ltd Hengchi 1 electric vehicle is presented at the Auto Shanghai 2021 show in Shanghai, China, in April. “If there’s an asset they own outside of China that they care about, it’s NEVS,” Tilk said. Evergrande first invested in the company in early 2019 through its EV arm, before lifting its stake later that year.

Source: Taipei Times October 01, 2021 15:56 UTC