The first of Evergrande’s much-awaited mass-production electric cars, the Hengchi 5, has rolled off the assembly line at the company’s facility in the northern city of Tianjin, Chinese media reported Friday, citing people familiar with the matter. It comes eight months after the indebted property developer debuted its inaugural sports utility vehicle with a driving range of 700 kilometers (435 miles) at the Shanghai Auto Show. In March, the company announced a goal to sell 1 million EVs by 2025. [Jiemian, in Chinese]
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