Asian Tech Press (May 19) -- China Evergrande (3333.HK) denied that the pre-sale of its first electric car was postponed indefinitely.

A market source said on Wednesday that the Chinese indebted property developer had postponed the pre-sale of its first mass-produced electric vehicle indefinitely.

Evergrande's new energy vehicle brand Hengchi called the market news "grossly inaccurate".

In a statement Wednesday evening BST, Hengchi said, "Due to the impact of COVID-19, [the company] adjusted the timing of mass production of Hengchi 5, from the original date of June 22, 2022 to September 20, 2022."

Hengchi emphasized that "the pre-sale of Hengchi 5 is progressing normally."