The electric car industry is on the rise, it is obvious. The proof, Evergrande Auto, a Chinese startup that has set itself the goal of sidelining Tesla, just that, is valued at $ 87 billion. However, Evergrande Auto has one peculiarity, and not the least, it has never sold a single car. Strange for a company that calls itself an electric car manufacturer.
In case you don’t realize what a $ 87 billion market value is, it’s way more than Ford or General Motors. It must be said that Evergrande Auto was founded by Xu Jiayin, owner of Evergrande Real Estate Group, the second largest real estate developer in China. This group also owns the famous Guangzhou FC football club.
You will understand, Xu Jiayin has proven itself in many sectors, but never in the automotive industry. Evergrande Auto unveiled 9 of its models at the Shanghai Auto Show 2021 which took place at the end of April, it’s true, but none of those models were functional. In other words, they were just prototypes. All the elements coincide to say that this company is strange.
14 vehicles in preparation
Nevertheless, Xu Jiayin and his teams do not seem disturbed, and are not only working on the 9 vehicles presented at the Shanghai Auto Show 2021, but 14. Yes, Evergrande Auto could land on the electric car market with 14 vehicles ready. to be marketed. If this is confirmed, it is a real feat. You should know that most companies in the sector can spend several years before unveiling even a single electric vehicle.
Everything becomes clearer when Xu Jiayin reveals his way of thinking. In 2019, during a press conference, the latter declared: “If we want to change lanes and overtake the others, we’re going to have to take an unusual route, one that no automaker has taken in history”.
Faced with Evergrande Auto, some manufacturers do not hesitate to make fun of these vehicles which according to them exist only on “Power point”. A situation that could recall that of Elon Musk when the latter unveiled his ambitions with SpaceX. Despite the many mockeries, needless to say what SpaceX stands for today.