Shanghai (ZXZC)- Evergrande Auto, the EV unit of Chinese property conglomerate Evergrande Group, launched its all-new logo for Hengchi brand that coveys its ambition to become a world-class new energy vehicle (NEV) developer and manufacturer.

Hengchi's new logo; photo credit: Hengchi

The multi-colored logo embodies Evergrande Auto's corporate vision and sense of responsibility. At the center of the shield-shaped badge is a golden lion, which signifies the company's aspiration to build a world-renowned EV brand. The blue and red spaces above and below the lion indicate the automaker's resolution to develop clean energy and the confidence in win a decisive victory despite the fierce competition, Evergrande Auto said via its WeChat account.  

Evergrande Auto got its name changed from Evergrande Health in late August, as the NEV has become its most important business.

On August 3, the company launched six models it will sell under its Hengchi brand. Those models are numbered from 1 to 6, including two cars, three SUVs and one MPV.

The first model scheduled to be mass produced will be the Hengchi 1 in 2021.

According to the interim financial result released in late August, Evergrande Auto's Shanghai and Guangzhou bases were expected to go into volume production next year, and each of such production bases has a planned capacity of 200,000 vehicles for the first phase.

Evergrande Auto had entered into a pre-listing tutoring agreement with Haitong Securities Co., Ltd. and had been registered at Shenzhen Securities Regulatory Bureau, intending to go public on the Science and Technology Innovation Board (STAR Market) of Shanghai Stock Exchange, a local media outlet reported in late October.

The company announced on September 25 that its board of directors had considered and approved the resolutions regarding the Proposed Issue of RMB Shares under the Specific Mandate and related matters. According to the plan, Evergrande Auto intended to apply for an initial public offering of RMB Shares and listing on the STAR Market for the allotment and issuance of no more than 1,555,867,058 RMB shares.