Evergrande is investing $23B to develop 1M electric cars annually, including a 50GWH battery factory. What are your thoughts? Helps kick off the worldwide EV market? Helps Tesla or hurts it? 集团新闻 Not sure if everyone translates websites with their browser, so pasting google translate below. ---- Guangzhou Municipal Government and Evergrande Sign Strategic Cooperation Agreement The three major bases of Evergrande New Energy Automobile Industry settled in Nansha Release time:2019.06.12 Source: Guangzhou Daily On June 11, the signing agreement of the Guangzhou Municipal People's Government and the Evergrande Group Strategic Cooperation Framework Agreement and the Nansha Series Major Investment Cooperation Agreement was held in Guangzhou. Deputy Secretary of the Guangdong Provincial Party Committee, Governor Ma Xingrui, Guangzhou Municipal Party Committee Secretary Zhang Shuofu, and Deputy Governor Zhang Hu , Guangzhou Municipal Standing Committee, Executive Vice Mayor Chen Zhiying, Municipal Party Committee Standing Committee, Nansha District Party Secretary Cai Chaolin and other provincial and municipal leaders; Evergrande Group Chairman Xu Jiayin, Evergrande Group Chairman and President Xia Haijun, Evergrande Guoneng New Energy Vehicle Group President Shaun attended the event. Guangzhou and Evergrande Group signed a strategic cooperation framework agreement According to the agreement, Guangzhou City and Evergrande Group will establish a comprehensive, in-depth and multi-field strategic cooperation relationship. Evergrande will vigorously deploy new energy automobile industry in Guangzhou; Guangzhou Municipal Government will continue to deepen the reform of business environment and provide quality and efficient services. Full support for the development of Evergrande in Guangzhou. Signing a photo In terms of specific cooperation, Evergrande invested 160 billion yuan to build three new bases for new energy vehicles in Nansha District of Guangzhou, among which the new energy vehicle R&D and production base will be built by Evergrande New Energy Automobile Group with an annual output of 1 million vehicles. Production base. The new energy battery R&D and production base will build a 50GWH production scale power battery super factory. The motor R&D and production base will build a production base for motors and electronic control systems that can support 1 million complete vehicles. Nansha District and Evergrande major industrial groups signed investment cooperation agreement As one of the three major automobile production bases in China, Guangzhou has a strong industrial base and cluster advantages in the field of new energy vehicles. As a Fortune 500 company, Evergrande has established a new and top-notch industrial chain of new energy vehicles since it first deployed the new energy automobile industry: entering the NEVS in Sweden and forming a joint venture with the world's top luxury car manufacturer Koenigsegg. A strong vehicle R&D and manufacturing capability; the company has entered Japan's top power battery technology; and has successively entered the Dutch e-Traction company and the British Protean, fully grasping the world's most advanced wheel motor technology; Hui Group has obtained the world's largest automobile sales channel; research and development of intelligent control systems to solve the problem of difficult charging of new energy vehicle communities. Xu Jiayin introduced the situation of Evergrande's new energy vehicles to Governor Ma Xingrui and Secretary Zhang Shuofu Analysts said that with the world's top technology and the entire industrial chain layout, Evergrande has taken an absolute leading position in the field of new energy vehicles. This time, it has reached a strategic cooperation with the Guangzhou Municipal Government. The three R&D production bases have landed in Nansha, which means that they are building cars. The plan is accelerating, and it is believed that Evergrande New Energy Vehicle will become a new business card for Guangzhou and even China's automobile industry.