Chinese Firm Threatens To Dominate The EV Market With A MASSIVE $23 Billion Investment

Evergrande, a Chinese firm believed to be the biggest real estate company in the world and backers of electric vehicle startups like Faraday Future and NEVS, announced a massive $23 billion investment in the production 1 million electric cars and 500 GWh of batteries per year.

The company is known for having its hands in many different businesses in China and overseas.

With a valuation at more than $100 billion and revenues of over $40 billion, Evergrande is now looking to expand into electric vehicles.

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Yonder7 - 6/13/2019 9:56:19 AM

+1 Boost

that helps a lot but do not grant anything...

PUGPROUD - 6/13/2019 10:19:21 AM

+1 Boost

Curious about headline characterizing investment as a threat...why? While I'm no fan of Chinese business and government practices, putting up $23 billion is a commercial venture open to all global players willing to step up and assume the risk.

Holydude - 6/18/2019 11:44:51 PM

+1 Boost

Because the hawks think that dominance by any country other than the US is a threat, their vision of the world is always a zero sum game.

TomM - 6/13/2019 10:30:06 AM

+3 Boost

This would be place where that other EV company might end up - if they near bankruptcy. Especially since It is planning another plant - in CHINA right now.

dlin - 6/13/2019 10:35:34 AM

+4 Boost

As long as they keep it in China, I don't care

Holydude - 6/18/2019 11:31:29 PM

+1 Boost

Spoken like a true redneck.

Truthy - 6/13/2019 3:14:41 PM

+4 Boost

Good luck. This venture needs innovation, not a Chinese strength.

CANADIANCOMMENTS - 6/13/2019 3:24:09 PM

+1 Boost

The fact they put money into Saab and Faraday may be all the indication that you need to evaluate their judgement. Real-Estate isn't the best experience to have when it comes to mass car production, high technology ventures or other important investments.

Holydude - 6/18/2019 11:43:30 PM

+1 Boost

Ok, but to be fair, they also did a great job with Volvo. IMO, it's still too early to tell if Saab and Faraday are sound investments at this point.

MDarringer - 6/13/2019 4:35:31 PM

+2 Boost

And they WILL.

Holydude - 6/18/2019 11:35:00 PM

+1 Boost

Agrees with Matt there (!!!), the US is still clinging to ICE while the Chinese are putting massive investments into EV tech.