China Evergrande New Energy Vehicle Group Limited (EVGRF), a subsidiary of China Evergrande Group, engages in the technology research and development, manufacturing, sales, and servicing of new energy vehicles primarily in the People's Republic of China and Europe; it also pursues property development including vehicle living projects and properties. The company offers core products and services such as electric vehicles under the Hengchi brand with models like the mass-produced Hengchi 5; smart mobility products; power lithium-ion batteries encompassing design, manufacturing, and sales; vehicle components; technical services; and ancillary offerings including green landscaping services, material procurement, and wholesale of home care and healthcare products. Founded in 1999 and headquartered in Guangzhou, China, the company previously operated as Evergrande Health Industry Group Limited before changing its name in August 2020 to reflect its strategic pivot to new energy vehicles. Recent developments include delays in dispatching circulars on major connected transactions such as loans receivable, green landscaping services, material procurement, and new energy vehicle sales, now extended to December 31, 2025; ongoing applications for new energy passenger vehicle product qualifications; and a strategic US$500 million investment agreement with NWTN Inc. in 2023 to support research, development, mass production, and overseas expansion.