Evergrande NEV
Electric vehiclesChina
New to Unitard
π Public < $1B
PeakΒ $11 BillionRecorded estimate
~-97%
from peak
- π¦Became a unicorn2020
- πPeak valuation$11 Billion β21
- πBecame a Unitard2023
- πΈLast valuation estimate~$330M
Current status
Public
The rise & fall
7 moments Β· 2019β2024The key moments.
2019
2019
Evergrande's EV blitz
The property giant announces plans to pour billions into electric vehicles.
Reuters
2020
2020
Renamed Evergrande NEV
Evergrande Health rebrands around the car dream; the HK-listed shares are worth well over $1B.
Reuters
2021
2021
The peak: ~$11B without mass-producing a car$11B
The EV arm's market value tops $11B on Evergrande hype despite barely any deliveries.
Reuters
2021
2021
Parent's debt crisis erupts
China Evergrande's default drama drags the EV unit down with it.
Reuters
2023
2023
Slips out of the club
The stock collapses to a sliver of its peak, on the way to a market cap around $237M.
Reuters
Jan 2024
Jan 2024
Parent ordered into liquidation
A Hong Kong court orders China Evergrande wound up, leaving the EV unit orphaned.
Reuters
How it happened
Evergrande New Energy Vehicle, the EV arm of the troubled property giant, briefly reached a market value around $11B in 2021 despite barely producing cars. Its parent's debt crisis dragged it down. The stock collapsed to a tiny fraction of its peak, leaving a market cap around $237M.
Source: HK-listed; parent property crisis
Who ran it
- Liu YongzhuoPresident/Chairman, Evergrande NEVNo public profile matched
