Evergrande Is Finished, Parent Company Bankrupt! Biggest Blow Yet in China’s EV Sector, $72B Gone

On July 25, an announcement shook the market: Evergrande Auto’s subsidiaries, Evergrande New Energy Vehicle and Evergrande Smart Automotive, were filed for bankruptcy and reorganization by creditors in court. It signified the largest debt crisis in the history of China’s new energy vehicle industry. Just 10 days later, Evergrande Group’s parent company, Kailong Real Estate, also faced bankruptcy liquidation. This marked the collapse of this real estate empire and signals the accelerating burst of China’s real estate bubble. #chinaobserver All rights reserved. ⭐You can support us at: ⭐For business cooperation, please contact us: business@