Chinese company producing electric vehicles NEVS acquires 20% stake in Koenigsegg

NEVS, the Swedish company producing electric cars, which bought the assets of now-defunct Saab, acquired a stake in supercar manufacturer Koenigsegg. NEVS has invested 150 million euros (171 million dollars) in a 20% stake in Koenigsegg, and the stated goals of the Association are the development of models “with a focus on electrification” in search of growth opportunities to increase sales hypercar in the future.

Separately these two companies form a joint venture for entering new markets: NEVS will provide another 150 million euros for 65% of the shares, and Koenigsegg will receive 35% of the shares in exchange for intellectual property, technology licenses and product design.

Chairman of the Board of Directors of NEVS said: “Koenigsegg is a tempting company developing a modern car with a unique technology and unique client base. An important step for us is the possibility of expanding our investment in the Swedish automotive industry through a company that we know and maintain relationships. We have both the competence and capacity to support a Koenigsegg in their way forward, which we look forward to”.

NEVS, which means that National Electric Vehicle Sweden, itself belongs to the owner of a Chinese conglomerate Evergrande, which acquired a controlling stake in the company to produce batteries, and also owns one of China’s largest retail automotive groups. We will remind, Evergrande is also a former investor in the electric car manufacturer Faraday Future.

Koenigsegg Regera © koenigsegg.com

Founder and CEO of Koenigsegg added: “Koenigsegg opens up new opportunities using our unique technology, advances in productivity and market position to explore and develop new products. This partnership will create for Koenigsegg the best conditions to accelerate the growth of the market for hypercars will also allow us to enter new market segment with NEVS. We look forward to working with NEVS in order to develop products that ensure a sustainable future”.

Koenigsegg, supported by the U.S. and Norwegian investors, tried to buy Saab after the collapse of 2011, but the deal never took place. While the luxury brand created a hybrid, he has yet to develop a fully electric car.

Sales growth of Tesla in recent years has shown that there is a market for luxury electric vehicles, pushing the traditional automakers such as Audi and Porsche, Volkswagen and Jaguar to develop their own electric versions.

Recall that in the category of super-luxury sports cars, where Koenigsegg, Ferrari has stated that it may present an electric version after 2022.

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