Evergrande electric vehicle unit loses $80 billion in worst stock rout

Shares of China Evergrande Group’s electric vehicle unit are collapsing in Hong Kong, wiping about $80 billion from what was the property developer’s most valuable listed asset.
 

China Evergrande New Energy Vehicle Group Ltd. sank as much as 22% Thursday after its parent said the unit lost 4.8 billion yuan ($740 million) in the first half. 

The EV business’s market value was about $87 billion at its April 16 peak, greater than that of Ford Motor Co. and almost four times the capitalization of China Evergrande itself at the time. Evergrande NEV shares are down 92% since, the worst performance in