China's Evergrande Sets Up NEV Charger, Takes Control of Saab's Owner
Liao Shumin
DATE:  Jan 16 2019
/ SOURCE:  yicai

(Yicai Global) Jan. 16 -- Evergrande Hi-Tech Group set up new unit Evergrande Smart Charging Technology with registered capital of CNY100 million (USD14.8 million) on Jan. 2, the Qixinbao corporate credit information lookup app operated by Suzhou Berta Data Tech shows.

The business scope of the new branch includes new energy vehicle charging piles, software technology research and development and charging facility design and operating services.

Another Evergrande unit has taken a 51 percent stake in National Electric Vehicle Sweden, Guangzhou-based Evergrande Health said in a statement yesterday. NEVS bought Saab Automobile out of bankruptcy in 2012. Both are based in Trollhattan, Sweden.

Investors welcomed the potential shift of the property firm's business focus, pushing Evergrande Group's shares [HK:3333] to gain 3 percent yesterday.

Editor: Ben Armour

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