China's Evergrande unveils three more pure electric cars in EV push

China Evergrande Group’s new-energy vehicle startup unveiled three more car models, even though it hasn’t started mass production of its first six types.

The EV arm posted short videos of “Hengchi 7", “Hengchi 8" and “Hengchi 9" on Wednesday, showing their exteriors

“Hengchi 7" is a sedan; “Hengchi 8" is a vehicle designed as a cross between a sport wagon and a sedan; “Hengchi 9" is a mid-sized sports-utility vehicle, according to company statement. All three types are pure electric and branded as luxury cars

Stock of China Evergrande New Energy Vehicle Group surged as much as 22% in early trading Wednesday, touching a high of HK$60.20. The unit’s 93% gain this year has pushed its market value to about HK$519 billion ($67 billion), more than twice as much as its property development parent

Last week, the EV arm released photos and video footage of its first batch of cars undergoing a winter test. Two of Evergrande’s planned production bases, in Guangzhou and Shanghai, have started trial production, it said in statement.