Evergrande in talks with Xiaomi consortium to sell EV unit stake, report says

China Evergrande New Energy Vehicle Group's Hengchi 1 electric vehicle at the 2021 Shanghai auto show in April. (BLOOMBERG/Bloomberg)

By:

Reuters

August 19, 2021 03:18 PM

HONG KONG -- Embattled Chinese property developer Evergrande Group is in talks with smartphone maker Xiaomi and Shenzhen state-backed investment firms as it looks to sell part of a 65 percent stake in its electric vehicle unit, three sources said.

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