Official Name: Shenzhen Hengchi Automobile Trading Co., Ltd.
Overview: Hengchi was a Chinese automobile manufacturer specializing in electric vehicles. It was a subsidiary of Evergrande Group and was officially liquidated in September 2024.
| Website | Evergrande Hengchi Auto |
|---|
History
Hengchi was established in 2020 and was headquartered in Nansha, Guangzhou. It was part of Evergrande Group’s ambition to enter the electric vehicle market, with an initial investment of 15 billion Yuan (approximately $2.14 billion USD). The company planned to develop and release nine different vehicle models, ranging from sedans to SUVs and MPVs.
Hengchi held a major unveiling event in July 2020, where it showcased concept models named Hengchi 1 through Hengchi 9. Despite its ambitious plans, the company faced financial difficulties. The first production vehicle, the Hengchi 5 SUV, was launched in July 2022 but saw limited success. Due to financial instability, Hengchi filed for bankruptcy in the summer of 2024 and ceased all operations.
Vehicles
Production Model:
| Model | Body Style | Production Period | Details |
|---|---|---|---|
| Hengchi 5 | SUV | September 2022 – December 2023 | 4.73m long, 5-door, 5-seat electric SUV |
Concept Vehicles:
| Model | Body Style | Doors | Seats | Revealed |
| Hengchi 1 | Sedan | 4 | 5 | 2020 |
| Hengchi 2 | Sedan | 4 | 5 | 2020 |
| Hengchi 3 | SUV | 5 | 5 | 2020 |
| Hengchi 4 | MPV | 5 | 7 | 2020 |
| Hengchi 6 | SUV | 4 | 5 | 2020 |
| Hengchi 7 | Sedan | 4 | 4 | 2020 |
| Hengchi 8 | Sedan | 4 | 4 | 2020 |
| Hengchi 9 | SUV | 5 | 4 | 2020 |
Bankruptcy and Liquidation
Hengchi struggled with financial viability despite its ambitious vision. The company filed for bankruptcy in mid-2024, marking the end of Evergrande’s electric vehicle aspirations. Its assets and intellectual properties were subject to liquidation, and no further production or sales were planned.
Conclusion
Hengchi represents a case of ambitious expansion in the electric vehicle industry that ultimately collapsed due to financial instability. While it introduced multiple concept vehicles and one production model, the company’s downfall illustrates the challenges of entering the highly competitive EV market.
