That $ 87 billion automaker … has never sold a car

The electric car industry is on the rise, that’s obvious. The evidence, Evergrande Auto, a Chinese startup aiming to get Tesla out of the way, is valued at $ 87 billion. Evergrande Auto has one specialty, however, and last but not least, it has never sold a single car. Strange for a company that calls itself an electric car maker.

In case you don’t know what a market value of $ 87 billion is, it is way more than Ford or General Motors. It must be said that Evergrande Auto was founded by Xu Jiayin, owner of Evergrande Real Estate Group, the second largest real estate developer in China. This group also includes the famous Guangzhou FC football club.

You will understand, Xu Jiayin has proven himself in many areas, but never in the automotive industry. Evergrande Auto presented 9 of its models at the Shanghai Auto Show 2021, which took place in late April. It’s true, but none of these models worked. In other words, they were just prototypes. All elements agree that this company is strange.

14 vehicles in preparation

Even so, Xu Jiayin and his teams don’t seem disturbed and are not only working on the 9 vehicles presented at the Shanghai Auto Show 2021, but also on 14. Yes, Evergrande Auto could land on the electric car market with 14 vehicles. If this is confirmed then it is a real accomplishment. You should know that most companies in the industry can spend several years introducing even a single electric vehicle.

Everything becomes clearer when Xu Jiayin reveals his way of thinking. During a press conference in 2019, he said: “If we want to change lanes and overtake the others, we have to take an unusual path that no automaker has taken in history.”

In the face of Evergrande Auto, some manufacturers do not hesitate to poke fun at these vehicles, which they believe only exist on “Power Point”. A situation that could be reminiscent of Elon Musk’s when he revealed his ambitions with SpaceX. Despite the many ridicules, needless to say what SpaceX stands for today.

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