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Electric Car Company's Financial Woes Mark More Trouble For China's Evergrande

People walk in front of the Evergrande headquarters in Shenzhen, China's southern Guangdong province on September 15, 2021. (Noel Celis /Getty Images)
People walk in front of the Evergrande headquarters in Shenzhen, China's southern Guangdong province on September 15, 2021. (Noel Celis /Getty Images)

An electric car company linked to China’s Evergrande is having trouble paying suppliers and will no longer sell new shares on the Shanghai stock exchange.

This comes as Evergrande’s main real estate business is tanking. The company failed to make an $84 million interest payment last week and could soon default on its more than $300 billion in debt.

Here & Now‘s Tonya Mosley speaks with NPR Beijing correspondent Emily Feng for the latest.

This article was originally published on WBUR.org.

Copyright 2021 NPR. To see more, visit https://www.npr.org.