China Evergrande’s EV Share Sale Agreement Expires

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In a recent development, the planned share sale between China Evergrande New Energy Vehicle Group and U.S.-listed NWTN has expired. The electric vehicle arm of China Evergrande clarified that, as both parties failed to agree on extending the long stop date, the share subscription and loan conversion subscription agreement with NWTN is no longer valid.

The lapse raises questions about the future collaboration between China Evergrande’s EV division and NWTN in the electric vehicle sector. The failure to extend the agreement by the end of 2023 suggests a shift in the dynamics of their partnership.

This development comes at a time when China Evergrande has been facing financial challenges, and the uncertainty surrounding its EV ventures adds another layer of complexity to its overall business outlook.

Investors and industry observers are closely watching how this expiration impacts the strategic direction of China Evergrande’s electric vehicle ambitions and its relationship with NWTN.

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