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Evergrande, a Chinese firm believed to be the biggest real estate company in the world and backers of electric vehicle startups like Faraday Future and NEVS, announced a massive $23 billion investment in the production 1 million electric cars and 500 GWh of batteries per year.



The company is known for having its hands in many different businesses in China and overseas.

With a valuation at more than $100 billion and revenues of over $40 billion, Evergrande is now looking to expand into electric vehicles.


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Chinese Firm Threatens To Dominate The EV Market With A MASSIVE $23 Billion Investment

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