Hengchi Motors launches limited-time discounts a deposit of 10,000 yuan offsets 20,000 yuan, and the car price is directly reduced by 15,000 yuan.

Hengchi Motors Introduces Limited-Time Offer Deposit of 10,000 yuan Offsets 20,000 yuan and Cars Price Reduced by 15,000 yuan

【PhoneAuto News】Recently, PhoneAuto noticed that Evergrande Group’s subsidiary, Hengchi Motors, has launched a limited-time discount policy. Currently, customers who purchase the Hengchi 5 model can receive a deposit reduction of 10,000 yuan, which can be offset against 20,000 yuan, and there are also limited special offers with a direct price reduction of 15,000 yuan. According to official information, there is currently only one model of the Hengchi 5 available for sale, priced at 179,000 yuan. This model uses a single electric motor drive with a maximum power of 150 kilowatts and a range of 602 kilometers.

In late October of this year, the Hengchi 5 also underwent an OTA upgrade. According to official sources, the upgrade involved optimizations for three controllers (ECUs) based on user driving experience and data feedback, including the car’s battery management system, electric tailgate function, charging logic, etc. The software version is H-SMART OS V1.4.6, which to some extent enhances the overall user experience of the vehicle.

However, even though the car has been on the market for some time, Evergrande’s automotive business as a whole remains heavily in the red. According to the official financial report data released as of June 30, 2023, Evergrande Auto’s net debt has dropped to 32.84 billion yuan, with total assets of 42.852 billion yuan and total liabilities of 75.692 billion yuan, including loans of 26.997 billion yuan (loaned funds to be converted into shares amounting to 17.278 billion yuan), trade and other payable of 42.273 billion yuan, and other liabilities of 6.422 billion yuan. At the same time, Evergrande Auto’s revenue for the first half of the year was 155 million yuan, with a gross loss of 61 million yuan; a total net loss of 6.873 billion yuan, a year-on-year decrease of 48.6%.

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