Evergrande Auto’s Investment Agreement With Dubai Automaker Lapses

China Evergrande New Energy Vehicle said an agreement for a Dubai-based automaker to subscribe to its shares has expired, raising fresh doubts about a potential cash injection for the Chinese electric-vehicle manufacturer.

The parties to the share subscription and the loan conversion agreement by Nasdaq-listed carmaker NWTN haven’t agreed to extend the long stop dates, which expired Dec. 31, 2023, Evergrande New Energy Vehicle, also known as Evergrande Auto, said in a filing late Monday.