Chart of the Day: Evergrande’s EV Unit Bleeds $11.7 Billion in Red Ink Over Two Years

The losses were revealed in Evergrande NEV’s long-delayed earnings reports, reflecting the unit’s struggle to gain a foothold in the country’s highly competitive EV market

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Debt-ridden real estate giant China Evergrande Group’s Hong Kong-listed carmaking unit suffered combined losses of about 84 billion yuan ($11.7 billion) for the past two years, according to its long-delayed earnings reports, reflecting the firm’s struggle to gain a foothold in China’s highly competitive electric-vehicle (EV) market.