TWO models being developed by China Evergrande Group’s electric vehicle (EV) unit weren’t included on an approval list issued by the nation’s Ministry of Industry and Information Technology, putting another question mark over whether the company will be able to mass produce a car and begin deliveries as promised.

China Evergrande New Energy Vehicle Group Ltd. applied for approval for two models of its Hengchi brand last month, both pure electric SUVs powered by energy-storage units made by Contemporary Amperex Technology Co.

The Ministry of Industry and Information Technology list was published for feedback until Nov. 16 and released on the agency’s website yesterday but Evergrande New Energy’s models were missing.

Neither the ministry nor the automaker disclosed details about the final decision, according to the list, while calls to Evergrande New Energy company representatives went unanswered yesterday.

Although Evergrande New Energy has made several attempts to raise money over the past few weeks to fund mass production of its electric cars, it warned as recently as September that it faces a serious funds shortage, echoing some of the financial troubles faced by its parent company.

At its peak one of the most valuable assets in Evergrande founder Hui Ka Yan’s empire, Evergrande New Energy said it had suspended paying some operating expenses and flagged that several suppliers had stopped work, stoking concern it wouldn’t be able to start mass production of its long-awaited electric vehicles.

Evergrande New Energy reported cash burn of around US$130 million in the first six months of the year and a US$742 million loss.

(SD-Agencies)