A spokesperson from Xiaomi stated, "Regarding recent rumors, we solemnly clarify the following: Xiaomi has never had any plans or actions to acquire or control Evergrande Auto."
Evergrande Auto announced today the detention of its executive director, Liu Yongzhuo. The company revealed that Liu has been criminally detained on suspicion of illegal activities, although specific details surrounding the allegations remain undisclosed.
A Wednesday report alleged that Evergrande Auto has indefinitely delayed the pre-sale of its Hengchi 5 model, sparking heated online discussion. That evening, Evergrande Auto issued a statement denying the report.
Real estate developer Evergrande's first pure electric SUV, the Hengchi 5, has seen 50,000 units ordered within the 10 hours of blind booking during Labor Day holiday.
After the trading of its shares was suspended on March 21, Evergrande Auto, the auto arm of embattled property giant China Evergrande Group, resumed stock operations from 9:00 a.m. on Wednesday.
Liu Yongzhuo, President of Evergrande Auto, said that the three-month battle to get the first car off the assembly line, which started on October 8, has achieved initial results, and the BIW assembly line was launched at the end of November.
British electric vehicle (EV) maker Saietta has said that it is acquiring electric powertrain company e-Traction from China Evergrande Group's automotive unit in a deal worth up to 2 million euros ($2.31 million).
Evergrande Auto, the automobile manufacturer under Chinese real estate developer Evergrande Group, announced on Wednesday that it had signed an agreement with its placement agent on Tuesday.
According to a report by Chinese media outlet LatePost on Wednesday, following Evergrande Auto's failure to pay equipment suppliers, the production line renovation project of the firm's Tianjin factory has recently stalled.
At the conference held on Monday, Liu Yongzhuo, President of Evergrande Auto, said that the company had launched a three-month "tough battle" to ensure that the first Hengchi vehicle would be rolled off the assembly line in early 2022.
