Evergrande Misses Payment Deadline, EV Unit Warns of Cash Crunch

Residential buildings under construction are seen at Evergrande Cultural Tourism City, a project developed by China Evergrande Group, in Suzhou's Taicang, Jiangsu province, China, on Sept. 23, 2021. Aly Song/Reuters

SINGAPORE/SHANGHAI—China Evergrande’s electric car unit warned on Friday it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer’s liquidity crisis is worsening in other parts of its business.

Evergrande owes $305 billion, has run short of cash and investors are worried a collapse could pose systemic risks to China’s financial system and reverberate around the world.