China Evergrande's EV unit says vice chairman detained on suspicion of 'illegal crimes'

China Evergrande's EV unit says vice chairman detained on suspicion of 'illegal crimes'

A view of the electric vehicle (EV) factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021. Picture taken October 20, 2021. REUTERS/Yilei Sun/file photo

China Evergrande New Energy Vehicle Group said on Monday an executive director Liu Yongzhuo, who is the firm’s vice chairman, has been detained, sending the stock tumbling as much as 23% in resumed trade.