Florida man files a lawsuit to prevent Ohtani's 50th HR ball from going to auction
Who is Eric Adams? The New York City mayor faces charges alleging he took bribes
Ex-Chili Peppers guitarist denies a manslaughter charge in the death of a pedestrian
Lithuania's foreign minister calls for Ukraine to be allowed to use arms freely
US diplomacy in Mideast falters as clock ticks down for Biden
Roaring Chinese stocks set for best week in a decade
Fitch says Brazil's fiscal challenges persist and will intensify next year
Fed's Cook says she 'wholeheartedly' supported half-point rate cut
At the New York Film Festival, an art form at play
(Reuters) -Liquidators of the electric vehicle arm of debt-laden China Evergrande are still in talks with a potential buyer to take a stake in the company with a view to provide a new credit line to support production.
In its initial days, the electric vehicle maker aimed to take on Tesla and had a market valuation higher than Ford Motor, but it has since been mired in the debt crisis engulfing its property developer parent.
China Evergrande New Energy Vehicle said on Thursday its liquidators had not yet entered an agreement with any potential stake buyer nor has there been any deal to extend credit to the electric vehicle manufacturer.
The non-binding deal by liquidators acting for China Evergrande Group, Evergrande Health Industry and Acelin Global provides for a third-party buyer to take a stake of 29% in the unit, with an option for 29.5% more, the EV arm had said in a statement in late May.
The firm, which in August said two of its units had commenced bankruptcy proceedings, has been severely short of funds and has faced pressure from its creditors and a local government.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Devika Syamnath)
