Evergrande Health Acquires 45% Stake In Faraday Future To Be Its Largest Shareholder

Evergrande Health Industry Group Ltd, a Hong Kong-listed investment holding company engaged in the media and healthcare businesses, announced that it has entered into an agreement to acquire a company that owns 45% equity interest in a joint venture with Faraday Future, the U.S.-based electric car start-up founded by embattled Chinese entrepreneur Jia Yueting, according to a security filing.

Chinese EV Unicorn NIO Begins ES8 Deliveries As The First To Face Consumer Inspections

Finally, one Chinese electric vehicle company has reached the critical moment of delivering its vehicles to face the real-life tests and inspections by consumers. NIO, a Shanghai-based EV unicorn with a reported valuation of between US$3 billion to US$5 billion, delivered its first batch of NIO ES8, a seven-seater electric SUV, today in Shanghai, NIO announced today.