China Evergrande EV units' bankruptcy adds roadblock for liquidators

HONG KONG -- The electric vehicle arm of embattled Chinese property developer Evergrande revealed two months ago that it was in talks with a potential buyer. Now, units of the EV group face a bankruptcy process that some warn could dampen the appetite for a deal.

Two mainland units of China Evergrande New Energy Vehicle Group have entered into bankruptcy and reorganization proceedings, according to a filing on Monday. The move came after a court on Friday heard an application from individual creditors.