Evergrande shocks auto industry by partnering with 60 suppliers

Evergrande Group once again astonished the automobile industry with an epic summit held on November 12, 2019.

In Guangzhou, the Chinese real estate titan announced its strategic partnership with a total of 60 world’s leading auto parts suppliers at the Evergrande New Energy Auto Global Strategic Partners Summit, where over 1,100 executives from 206 auto-related companies worldwide were invited to witness the spectacular occasion. 

Partners include such well-known firms as Bosch, Magna, Continental AG, ZF Group, thyssenkrupp AG, JTEKT and BASF.

Evergrande Group has prepared a great deal of budget for its NEV development cause–RMB20 billion for the year of 2019, RMB15 billion for 2020 and RMB10 billion for 2021, said Xu Jiayin, chairman of Evergrande Group.