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Evergrande moves into electric car manufacturing sector

Evergrande Group, one of China’s real estate giants, is aggressively moving into the electric car manufacturing sector, The Paper reported. Its wholly-owned subsidiary, Evergrande New Energy Power Technology Co, has purchased a stake in Shanghai Cenat New Energy Co, a lithium-ion battery producer. The 1.059 billion-yuan deal makes it the largest shareholder with a stake […]