EV unit of China's Evergrande Group struggles with bankruptcy

Beijing [China], August 8 (ANI): The China Evergrande New Energy Vehicle Group (CENEVG), an electric vehicle production of Chinese Evergrande Group revealed that previously they had initiated talks with potential buyers, however, are now struggling with bankruptcy proceedings, Nikkei Asia reported.

They stated that now, a bankruptcy process was initiated by some units of the entity that could dampen the buying process.

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