Hengda Automobile announced that Hengchi 5 will be mass-produced and delivered next month, and the stock will continue to be suspended

Wu Shuying, 21st Century Business Herald reporter, reporting from Guangzhou

On September 16, 2022, Hengda Automobile announced that the Hengchi 5 would be mass-produced at the Tianjin plant on September 16, 2022 and would be delivered in October 2022.

In the announcement, Hengda Automobile said that it will accelerate the development and mass production of other models, and strive to build a national automobile brand with world-leading core technology and world-class product quality.

In a subsequent article published by Hengchi’s official account, Hengchi Automobile said that it has established the concept of "gathering global wisdom and building a national brand", and strives to achieve the goal of world-leading core technology and world-class product quality.

In order to achieve this goal, Hengchi Automobile pointed out that it has tried every means to introduce more than 2,000 international top scientific research talents, established the Global Research Institute and the Global Battery Research Institute, and carried out R & D work simultaneously in China, Sweden, South Korea, Japan and other places. Adopting a global integrated R & D model, introducing international advanced technology, and jointly developing models with the world’s top leaders such as Magna and EDAC.

According to Hengchi Automobile, it currently has world-leading core technologies in the fields of vehicle manufacturing, chassis architecture, intelligent networking, power batteries, and autonomous driving.

In terms of the automotive research and development schedule, Hengchi said that it will accelerate the development and mass production of other models. Hengchi 6 will be launched at the end of this year and mass-produced in the first half of next year. Hengchi 7 will be launched in the first half of next year and mass-produced in the second half of next year. At the same time, we will accelerate the research and development progress of Hengchi 1 and Hengchi 3, and make every effort to build a national automobile brand with world-leading core technology and world-class product quality.

Hengchi Auto’s mass-produced model, Hengchi 5, will start pre-sale at 20:00 on July 6, 2022. On July 30, 2022, Hengchi Auto announced that the cumulative pre-sale order of Hengchi 5 has exceeded 37,000.

Hengchi 5 "innovated" the sales method. According to the sales plan of Hengchi 5, the first 10,000 cars will be given a large profit, and the car will be paid at the time of delivery, and the car can be returned and refunded within 15 days after pickup. All car purchase payments and refunds are in the special account of the notary office.

At the same time as the mass production announcement of Hengchi 5, Hengda also announced the progress of its resumption of trading.

Evergrande Motor is required to publish its 2022 interim results on or before August 31, 2022, while the relevant audit and review work is still in progress. Evergrande Motor said that after the relevant procedures are completed, it will release the 2021 audited annual results and 2022 interim results as soon as practicable.

Evergrande said it would continue to inform the market of all important information in due course. Evergrande has been suspended since April 1, 2022 and has not resumed trading.