China Evergrande, the Chinese real estate conglomerate in the midst of a cash crunch and which has never made electric vehicles at scale, now vows that it will actually start making electric vehicles at scale. www.bloomberg.com/news/articles/2021-10-11/evergrande-nev-vows-to-deliver-electric-cars-early-next-year?sref=frV97TwV
Beyond Evergrande, China’s Property Market Faces a $5 Trillion Reckoning - WSJ www.wsj.com/articles/beyond-evergrande-chinas-property-market-faces-a-5-trillion-reckoning-11633882048
China's real estate problem could be bigger than Evergrande. @AnnekenTappe has the story. www.cnn.com/2021/10/12/investing/chinese-real-estate-debt-crisis/index.html
"For many years, Evergrande was China’s second-largest builder and one of the world’s largest companies. Goldman Sachs says its assets are equivalent to 2 percent of China’s GDP; the FT reported the company owned enough land to contain Portugal." bit.ly/3AwPeHz
Did evergrande default?
Evergrande, the world's most indebted property developer, is set to formally enter default on Oct. 23, when the grace period ends for its first missed bond payment. On Tuesday, the company missed a third round of payments, bondholders confirmed to the Reuters news agency, intensifying investor jitters. The Washington PostAs Evergrande collapse looms, other Chinese developers warn of default
Read full article at Bloomberg
13 October, 2021 - 12:10am