Shares of China Evergrande New Energy Vehicle Group nearly doubled in value after the liquidators of the Chinese NEV startup's parent firm China Evergrande Group found a potential buyer to take a stake in the company.

Evergrande NEV [HKG: 0708] was trading up 82 percent at 69 Hong Kong cents (8 US cents) as of 12:00 a.m. in Hong Kong today, after earlier surging as much as 113 percent. The stock resumed trading today after a five-day suspension.

Evergrande's liquidators signed a preliminary deal with a potential buyer that would take a 29 percent stake in Evergrande NEV, the latter said in a filing to the Hong Kong Stock Exchange yesterday. The buyer also has an option to purchase Evergrande's remaining 29.5 percent stake in Evergrande NEV.

Through the deal, Guangzhou-based Evergrande NEV will receive credit loans from the buyer to fund its operations and electric vehicle business development.

Evergrande NEV's plant in Tianjin, one of the company's most important ones, has been closed since the beginning of the year, the carmaker said in yesterday's filing.

A Hong Kong court ordered on Jan. 28 that debt-laden Evergrande should be liquidated because the Shenzhen-based company had failed to make substantial progress with its debt restructuring plan. Evergrande had CNY2.4 trillion (USD331.4 billion) worth of debts as of the end of January.