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(Reuters) – China Evergrande (HK:) New Vitality Car mentioned on Monday an area court docket had dominated that two of its models ought to enter out of business and be reorganised, per week after particular person collectors of the models filed for such proceedings.
Shares of the electrical car maker plunged 7% on July 29, a day after particular person collectors of Evergrande New Vitality Car (Guangdong) and Evergrande Good Automotive (Guangdong) sought court docket approval for the models to undergo chapter proceedings and be reorganised.
The agency mentioned an area court docket listening to was held on Aug. 2, and the court docket ordered the models to engter into such proceedings.
The EV unit of embattled actual property developer China Evergrande Group in Could up to date the market that its liquidators had been in talks with a possible purchaser to take a stake within the firm, thereby growing probabilities of extending a brand new credit score line for the agency to assist manufacturing.
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