China Evergrande New Energy Vehicle Group Ltd. agreed to divest the majority of its property assets to another unit of China Evergrande Group for a nominal 2 yuan ($0.29) as the struggling electric-car maker seeks new financing from investors. Divesture of the property assets will allow the company to focus on the new-energy vehicle (NEV) segment and deploy its resources to fund existing projects that will offer better and more sustainable returns to shareholders, Hong Kong-traded Evergrande NEV said Monday in a filing with the Hong Kong Stock Exchange.

https://www.caixinglobal.com/2023-04-26/evergrande-nev-dumps-property-assets-to-focus-on-carmaking-102032080.html

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