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China Evergrande New Energy Vehicle, unit of the embattled property developer China Evergrande Group, denied media report that the company will likely be acquired by another Chinese automaker in a local government-led deal.
Liu Yongzhuo, President of the carmaker said that the company has been making active efforts to bring in strategic investors and so far local governments and several companies have expressed interest in investing in the company, but there is no acquisition.
Liu also said that its plant in Tianjin is in normal operation and production of Hengchi 5, its first model, has been proceeding in an orderly way, denying market speculation that production in the Tianjin plant is in suspension.
More than 1,800 staff at the Tianjin plant is working hard to ensure mass production in September and delivery in October, he said.