BEIJING, Feb. 27 (Xinhua) -- China's real estate conglomerate Evergrande Group has set up a new subsidiary engaging in new energy vehicles (NEV), China Securities Journal reported on Tuesday.
The new firm, with a registered capital of 2 billion U.S. dollars, will focus on energy technology research, auto parts wholesale, retail of automobiles, energy technology consulting services, car rental, etc.
Evergrande Health Industry Group Limited announced last month that it has bought a 51-percent stake in National Electric Vehicle Sweden AB (NEVs) for 930 million U.S. dollars. (Edited by Yang Yifan, yangyifan@xinhua.org)
A single purchase
