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In the six years since Evergrande began building cars, it has basically been burning money, with an average loss of 100 million yuan per car sold, or 13.8 million USD. According to the financial report, from 2018 to 2022, Evergrande Automobile’s losses have been increasing year by year, respectively reaching 1.4 billion yuan, 4.4 billion yuan, 7.4 billion yuan, 56.3 billion yuan and 27.7 billion yuan. In these five years alone, Evergrande Automobile’s cumulative losses reached 97.2 billion yuan. Coupled with the 6.9 billion yuan loss in the first half of 2023, its total loss has exceeded 100 billion yuan, reaching an astonishing 104 billion yuan. This figure far exceeds the scale of losses of NIO Automobile. Although the scale of Evergrande Automobile’s losses may not be large compared to Evergrande’s overall debt burden of 2.4 trillion yuan, it has hit a record high in the automobile industry and can be called the largest “loss king” in history
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