Evergrande’s Hengchi 5 electric SUV rolls off Tianjin plant after much delay, a key step in transforming the world’s most indebted developer

China Evergrande Group’s first electric vehicle rolled off the assembly line on Wednesday, an important step for the world’s most indebted property developer as it doubled down on its biggest cash-burning bet to transform itself.The Hengchi 5 all-electric compact sports-utility vehicle (SUV), with a driving range of about 700 kilometres (435 miles) on a single charge, is ready for delivery after coming off the assembly in Tianjin, Evergrande New Energy Vehicle said.The model, priced at less…


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