MILAN, Sep 26 (Class Editori) – The Chinese real estate conglomerate China Evergrande Group joined forces with the five major automotive engineering and technology companies in the world to further optimize the layout of the industrial chain in the field of new energy vehicles (NEV, new energy vehicles). The Evergrande New Energy Automobile Group car branch signed a strategic agreement on Wednesday with the German automotive engineering and technology companies FEV Group, EDAG and IVA Group, as well as with the Austrian company AVL and the Canadian company Magna.
Meanwhile, in recent weeks the chairman and founder of the group Hui Jiayin, also known as Hui Kayan – his Cantonese name – had meetings with Pininfarina and Magneti Marelli during his last visit to Europe, the seventh in the last year.
"The work we are doing on the new eco-friendly car brand Hengchi is the first step in a promising collaboration for new activities," said CEO Silvio Angori, "we intend to strongly support Evergrand's development plans and commit ourselves to doing all the investments necessary to support this strategic cooperation".
The real estate giant, listed and with profits of more than 70 billion yuan (8.9 billion euros) in 2018, is shifting its focus to the electric car sector. In the first half of the year it has already made investments of over 2 billion dollars, and it will do others in the coming months. The latest agreements are therefore part of the ambition to become the largest NEV company in the world within the next three to five years, manufacturing and selling 5 million vehicles in ten years.
Under the agreement, Evergrande will work with the five car giants to jointly develop 15 new car models, covering a whole range of product types including high-quality, ultra-luxury, luxury, exclusive, comfortable and classic models.
As early as last January, the Shenzhen group worked with Koenigsegg, a Swedish company, to develop the basic technology of the best luxury cars in the world. To conclude, last July it signed a joint venture with the German automotive engineering company Hofer to produce electric propulsion systems.
(Source:Class Editori)
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