{"id":564769,"date":"2023-03-23T09:40:52","date_gmt":"2023-03-23T04:10:52","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=564769"},"modified":"2023-03-23T10:31:59","modified_gmt":"2023-03-23T05:01:59","slug":"china-evergrandes-ev-unit-likely-to-shut-down-without-new-funding","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/china-evergrandes-ev-unit-likely-to-shut-down-without-new-funding\/","title":{"rendered":"China Evergrande&#8217;s EV unit likely to shut down without new funding"},"content":{"rendered":"<p>China Evergrande New Energy Vehicle Group Ltd. warned it may have to stop making electric cars if it can\u2019t obtain new financing, having delivered just 900 of its much-delayed flagship model.<\/p>\n<p>The company said it is seeking to cut costs by reducing staff numbers and improving management efficiency. However, \u201cin face of the inability to obtain additional liquidity, the group is at risk of discontinuing production,\u201d it said in a statement to the Hong Kong Stock Exchange.<\/p>\n<p>While Evergrande had flagged as early as August 2021 that it was running short of cash, this is the starkest warning yet that founder Hui Ka Yan\u2019s dream of taking on Elon Musk\u2019s Tesla Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China Evergrande New Energy Vehicle Group Ltd. warned it may have to stop making electric cars if it can\u2019t obtain new financing, having delivered just 900 of its much-delayed flagship model. The company said it is seeking to cut costs by reducing staff numbers and improving management efficiency. However, \u201cin face of the inability to obtain additional liquidity, the group is at risk of discontinuing production,\u201d it said in a statement to the Hong Kong Stock Exchange. While Evergrande had flagged as early as August 2021 that it was running short of cash, this is the starkest warning yet that [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-564769","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/564769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=564769"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/564769\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=564769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=564769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=564769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}