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As the property giant, Evergrande's big move into the electric car market has raised many eyebrows, but their recent acquisition of a 51% stake in electric car maker Foday could prove to be a shrewd move. The move is part of a bigger vision for Evergrande to become a high-tech industrial conglomerate, which includes plans for electric vehicles and charging infrastructure. In the midst of recent controversies surrounding Evergrande's debt obligations, the company's shares surged following positive reviews of their newly-built Zhengzhou Evergrande Football School in China.
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