Hengchi 5 enters mass production with deliveries planned for October

Today is a big day for Evegrande’s automotive arm Hengchi. The announced its first model, the Hengchi 5 has entered mass production at the Tianjin plant with the first customers scheduled to take delivery next month.

It has taken a while for the company to reach this point, the first Hengchi 5 rolled off the assembly line in December last year and the company took another six months before it opened order books in July. Since then, Hengchi received over 37,000 orders for its first electric SUV.

Mass production of Hengchi 5 is a huge milestone for the company and it paves the way for its next models. Hengchi 6 is already planned to enter production by the end of this year and about 6 months after, the Hengchi 7 should follow.

The company is speeding up its development as well, with the first three models either in mass production or nearing it, Hengchi unveiled plans for its smaller electric cars - Hengchi 1 and Hengchi 3.

A big part of Hengchi 5's success is down to its pricing. The car costs the equivalent of $25,500 after local subsidies are applied. President of Hengchi called the company’s first car “the best electric SUV under $43,000.”

There were some rumors about the company suspending the production of Hengchi 5, apparently, a shortage of raw materials was responsible for the shutdown. The company was quick to refute those claims with its president issuing a statement that the production was going ahead without a hitch.

The skepticism is understandable when it comes to a company with the history of Evergrande and even more so when it has never produced cars before. But the attractive price and generous equipment levels seem to be enticing enough for 37,000 people - and counting.

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