Director Resignation Highlights Internal Dispute at China Evergrande NEV Group

China Evergrande New Energy Vehicle Group ( (HK:0708) ) has provided an announcement.

The resignation of an independent non-executive director from China Evergrande New Energy Vehicle Group Limited was due to a disagreement over the asset disposal by its subsidiary, National Electric Vehicle Sweden AB. The director opposed the sale of a 20% interest in AB Trollhättan Propellern 13 and a discounted sale of promissory notes, which the subsidiary proceeded with despite his objections. This decision reflects internal conflicts that may impact the company’s strategic direction and stakeholder confidence.

More about China Evergrande New Energy Vehicle Group

China Evergrande New Energy Vehicle Group Limited is a company incorporated in Hong Kong, focusing on the new energy vehicle industry. It is involved in the development and manufacturing of electric vehicles, aiming to capture market share in the growing sector of sustainable transportation.

YTD Price Performance: -13.33%

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Technical Sentiment Consensus Rating: Buy

Current Market Cap: $268M

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