Now Evergrande’s EV unit warns of running out of cash

The warning shows the embattled property developer’s liquidity crisis is worsening across its business.

Shares of China Evergrande’s electric car unit plunged as much as 26 percent on Monday after it warned it faced an uncertain future unless it got a swift injection of cash and after it said it will not proceed with plans to issue yuan-denominated shares.

The warning by China Evergrande New Energy Vehicle Group after the market closed on Friday was the clearest sign yet that the embattled property developer’s liquidity crisis is worsening in other parts of its business.

In its statement Evergrande NEV said it has suspended paying some of its operating expenses and some suppliers have suspended work.