A $4bn factory in central China has come to symbolise the world’s most indebted property group’s moonshot attempt to become a leading electric-car brand.
The unfinished Evergrande Auto plant in Lu’an, a city of 5m in Anhui province, is a far cry from the futuristic structure depicted on a faded billboard near the site’s entrance.
When the Financial Times visited in December, the site was home to a single steel skeleton. It “has basically been on hold since the [coronavirus] epidemic started”, said a truck driver, who declined to be named, of the project that was announced in September 2019.
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