Evergrande, EV unit shares jump after chairman signals business shift

Evergrande, EV unit shares jump after chairman signals business shift

FILE PHOTO: The China Evergrande Centre building sign is seen in Hong Kong, China. August 25, 2021. REUTERS/Tyrone Siu/File Photo

Shares in China Evergrande Group shot up 4% on Monday after the embattled property developer announced plans to prioritise growth of its electric vehicles business over its core real estate operations.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter