SHANGHAI: China Evergrande New Energy Vehicle Group Ltd’s expansive pop-up showroom sits at the heart of Shanghai’s National Exhibition and Convention Center. With nine models on display, it’s hard to miss.
The electric car upstart has one of the biggest booths at the 2021 Shanghai Auto Show, opposite storied German automaker BMW AG. Yet its bold presence belies an uncomfortable truth — Evergrande hasn’t sold a single car under its own brand.
China’s largest property developer has an array of investments outside of real estate, from soccer clubs to retirement villages. But it’s the recent entry into electric cars that’s captured investors’ imaginations.
Shareholders have pushed Evergrande NEV’s Hong Kong-listed stock up more than 1,000%…
