BYD executive says no 'Evergrande' risk among mainstream Chinese automakers

Reuters
30 May
BYD executive says no 'Evergrande' risk among mainstream Chinese automakers

BEIJING, May 30 (Reuters) - An executive at electric vehicle leader BYD 1211.HK 002594.SZ on Friday said there is no "Evergrande" risk among mainstream Chinese automakers.

Last week, Great Wall Motor 601633.SS Chairman Wei Jianjun said the auto industry has its own Evergrande 3333.HK, referring to the debt-laden developer that became the centre of a liquidity crisis in China's property sector.

Wei's comments were "astonishing", Li Yunfei, BYD's general manager of branding and public relations, said in a Weibo post.

Great Wall Motor did not immediately respond to a request for comment.

(Reporting by Beijing newsroom; Editing by Christopher Cushing)

((qiaoyi.li@thomsonreuters.com;))

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