"China Evergrande's EV Unit Faces Setback as Share Sale Agreements Expire"
Evergrande New Energy Vehicle, also known as Evergrande Auto, announced that its share subscription and loan conversion agreement with NWTN, a Nasdaq-listed Dubai automaker, has expired without renewal. This development casts uncertainty on the financial future of the Chinese electric-vehicle manufacturer, as the anticipated cash infusion from the deal is no longer expected.