Evergrande’s uncompleted electric vehicle facility in Shanghai

China Evergrande Group has hit another bump on the road to ease its liquidity crisis after abandoning a plan to float its car-making business on the domestic market. There was little activity at the Evergrande New Energy Vehicle Group facility in Shanghai on September 28, 2021, two days after the indebted developer said it will no longer proceed with its domestic share offering after “due and careful consideration.” Evergrande made the statement in a September 26 filing to the Hong Kong stock exchange, where the company is already listed.