On April 19, 2021, a Hengchi 5 car is seen at the 19th Shanghai International Automobile Industry Exhibition in Shanghai. The start of pre-orders for the sport-utility vehicle comes after Evergrande Chairmen Hui Ka Yan vowed within 10 years to change the group's primary business from real estate to automobile venture.
Pre-orders, which are not binding, will begin on Wednesday.
According to company executives' recent statements, the mass production of the Hengchi 5 has been postponed to the third quarter of June. Evergrande has been reeling under more than $300 billion worth of liabilities.
Evergrande New Energy Vehicle says it hopes to make 1 million vehicles a year by the year 2025.
Evergrande is working on a debt restructuring plan. Its electric vehicle arm has struggled to secure external investment and has negotiated with potential buyers for some of its assets.
READ MORE: HKEX: Trading in shares of China Evergrande, units stopped being traded.
The share of the unit has been suspended since April, pending the publication of the annual financial results for the year 2021, due to the suspension of trading.