Evergrande’s dream of dominating the electric vehicle market began right here at the Hengchi Nansha Base. This sprawling industrial park, officially known as the Hengchi Automobile Nansha Base, was supposed to be the heart of Evergrande’s ambitious foray into the world of NEVs. Hengchi, meaning “evergrande” or “permanent gallop,” reflected the company’s vision of a relentless charge into the future of automotive technology. The Hengchi Nansha Base in Guangzhou’s Panyu district was a key element of this vision, serving as both a production base and a research and development center. Construction commenced in April 2017, with a massive investment of 45 billion yuan, over 470,000 square meters of land dedicated to churning out cutting-edge electric vehicles. The goal was clear: to rival established players and become a major force in the rapidly growing NEV market. The Hengchi Nansha Base embodied Evergrande’s hopes of becoming a global leader, mirroring China’s broader push towards high-quality manufacturing and global industrial competitiveness. The initial enthusiasm was palpable. Imagine sleek, futuristic vehicles rolling off the assembly lines, designed to compete with the best in the world. In reality, though, Hengchi’s journey was fraught with challenges. While the company showcased nine concept vehicles, ranging from sedans and SUVs to an MPV, only one, the Hengchi 5 SUV, ever reached production. By the summer of 2024, the dream had faded. Evergrande’s overreach and financial troubles caught up with them, forcing the Hengchi subsidiary into liquidation and leaving the Nansha Base a monument to unfulfilled ambition. The echoes of “permanent gallop” fell silent, a stark reminder of the complexities of the automotive industry and the challenges of turning grand visions into reality. The Hengchi Nansha Base stands as a silent testament to Evergrande’s ambition and its ultimate demise.
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