China Evergrande's EV shares slump after creditors seek bankruptcy proceedings

China Evergrande's EV shares slump after creditors seek bankruptcy proceedings

FILE PHOTO: A view of the electric vehicle (EV) factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021. Picture taken October 20, 2021. REUTERS/Yilei Sun/File Photo

Shares of China Evergrande New Energy Vehicle fell 7% in Monday morning trade after individual creditors of two of its units sought court approval for the units to go through bankruptcy proceedings and be reorganised.