Tesla challenger China Evergrande Group vows to debut electric car in 2020

China Evergrande Group, the property giant with ambitions to become the world’s biggest maker of electric vehicles, plans to unveil its debut car by June — a year later than first promised.

The car, to be sold under the ‘Hengchi’ brand, will debut in the first half of next year, with mass production starting in 2021, the company said in a statement late Tuesday.

Evergrande — which has spent more than $3.6 billion since late last year on an array of EV-related companies and pledged to invest billions more -- had promised to deliver its first ‘pure battery’ car by June this