China Evergrande EV unit to issue fresh shares in restructuring plan

By:

Reuters

August 14, 2023 04:20 PM

Embattled property developer China Evergrande Group said on Monday its listed EV arm has agreed to issue new shares to certain subscribers to ease loan burden and improve liquidity as part of its restructuring proposal.

Featured Stories

U.S. tariffs on imported vehicles are in effect, with parts duties following soon

What vehicle parts are now subjected to tariffs? Powertrain, suspension, safety and more

MSRP and dealers and finance, oh my! Why tariff price impacts may vary

Here’s our list of the 2025 Top 150 dealership groups

Latest News

Daily 5 report for April 3: Stocks crash, job cuts emerge, costs rise as tariff chaos begins

Audi holding all vehicles delivered to U.S. ports after April 2, memo says

How automotive stocks are performing after tariff announcement

GM to increase truck production in Indiana following Trump’s tariffs

Staying current is easy with newsletters delivered straight to your inbox.

See More in China

South Korea’s KG Mobility signs deal to develop SUVs with Chery platform

Stellantis-backed Leapmotor becomes top-seller among Chinese EV startups in March

Tesla China deliveries slide 11% in March as global rout deepens

EV startup Li Auto to open-source its vehicle operating system

Staying current is easy with newsletters delivered straight to your inbox.