Hengchi Automobile was frequently executed, and the information of the persons subject to execution for breach of trust exceeded 62.59 million yuan.

According to news on June 6, the China Execution Information Disclosure Network recently disclosed the latest execution status of Evergrande Hengchi New Energy Vehicle Research Institute (Shanghai) Co., Ltd. It is understood that the company has added two new pieces of information on persons subject to execution, with a total execution target of more than 42.14 million yuan, involving construction contract disputes and other cases. The enforcement courts are Shanghai Songjiang District People's Court and Shanghai No. 1 Intermediate People's Court.

Hengchi New Energy Vehicle Research Institute was established in June 2019. It is wholly owned by Evergrande New Energy Vehicle Investment Holding Group. Its legal representative is Fang Chi and its registered capital is RMB 3 billion. According to the risk information, the company has 9 pieces of information on persons subject to execution, involving an amount of more than 62.59 million yuan. In addition, there are many pieces of information about dishonest persons (laolai), consumption restriction orders and final cases.

#The editor learned that it is not uncommon for Hengchi Automobile to be frequently executed. On March 30 this year, Evergrande Hengchi New Energy Vehicle (Shanghai) Co., Ltd. added a new piece of information about the person subject to execution, with an execution target of more than 8.1 million yuan. The execution court is the Songjiang District People's Court of Shanghai. In addition, in December last year, Hengchi Automobile Company was listed as a person subject to execution for breach of trust (Lao Lai) because Hengchi Automobile Company refused to perform its obligations specified in effective legal documents. According to the effective legal documents, Hengchi Automobile was ordered to pay the plaintiff Shanghai Jiyu Construction Engineering Co., Ltd. more than 540,000 yuan for the project.

Looking back on the car-making process of Evergrande Automobile, it has experienced from the initial prosperity to the current financial difficulties. In 2018, with the vigorous development of the new energy vehicle industry, Evergrande Group entered this field and relied on its strong financial resources to acquire companies globally covering automotive design, R&D, production, sales, etc. through the "buy, buy, buy" strategy. The assets and talents of an entire industrial chain. However, Hengchi Automobile is now stuck in a quagmire. It is still unclear when it will be able to get out of the predicament.

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