China Evergrande New Energy Vehicle has received 37,000 pre-orders

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China Evergrande New Energy Vehicle Group, the carmaking unit of the embattled property developer China Evergrande Group, said on Wednesday that it had received non-binding pre-orders for more than 37,000 units of its first car model Hengchi 5.

Pre-orders for the Hengchi 5 have far exceeded the company’s expectations, president Liu Yongzhuo said at an online event.

The carmaker started to accept pre-orders two weeks ago, with buyers paying 1,000 yuan ($148.13) as a deposit for the pure-electric sport-utility vehicle priced from 179,000 yuan. The EV unit said it will start delivering the first batch of 10,000 Hengchi 5 cars from Oct. 1, 2022 to March 31, 2023. Buyers will be fully refunded if they change their minds within 15 days after pickup.