China Evergrande EV Unit cash strapped - Reuters News Agency

China Evergrande EV Unit cash strapped

On Sept 24, China Evergrande’s electric vehicle unit said it was still looking for new investors and asset sales, without which it would struggle to pay salaries to employees and cover other expenses. Reuters was on average two minutes ahead on all six key alerts. 

Market Impact

The news wiped off nearly a quarter of the company’s market cap. 

Article Tags
Topics of Interest: Automotive
Type: Reuters News First
Sectors: Equities
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo
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