Guangzhou Automobile Denies Evergrande EV Factory Talks

Guangzhou Automobile Group Co Ltd. states it and its subsidiary have had no discussions with China Evergrande Group’s EV unit or other entities about acquiring the Nansha factory. This statement clarifies market rumors of potential negotiations between the companies.

Guangzhou Automobile Group Co Ltd issued a statement declaring that neither the company nor its subsidiary had any contact with China Evergrande Group's electric vehicle unit or other entities regarding the acquisition of the Nansha factory.

The announcement refutes market rumors suggesting possible negotiations between the automotive company and the Chinese real estate giant's EV division.

The clarification aims to dispel any speculation and provide transparency on the company's business dealings related to the Nansha facility.

(With inputs from agencies.)