With the objective of "developing a product for new and unexplored segments, leveraging the two strong points of the companies", the NEVS and the Koenigsegg announced a new strategic partnership. The two brands also plan to produce new models together and strengthen growth opportunities in the hypercar segment.
This partnership was reached after the NEVS AB has injected 150 million euros into Koenigsegg AB (the “parent company” of Koenigsegg), which now holds a 20% share in Koenigsegg.
In addition to this partnership, the two companies also announced the creation of a joint venture in which NEVS invested more than 131 million euros as initial capital, obtaining a share of 65%. Koenigsegg owns the remaining 35%, contributing not capital but intellectual property, technology licenses and product design.
Who is NEVS?
This partnership not only gives Koenigsegg access to the NEVS factory in Trollhättan, Sweden, it also allows it to have a stronger distribution network in China. As for NEVS, the greatest asset that this partnership brings is access to Koenigsegg's know-how.
Created in 2012 by Sino-Swedish businessman Kai Johan Jiang, NEVS managed in the same year to beat several companies in the race for purchase of Saab assets when GM decided to sell the Swedish brand. Interestingly, in 2009 Koenigsegg had also tried to buy Saab, but at the time without success.
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However, despite the fact that aerospace company Saab AG retrieved the “Saab” logo and name in 2016, NEVS has continued to focus on converting GM-Saab platforms into electric models for the Chinese market.