NEVS AB (an abbreviated form of "National Electric Vehicle Sweden")[2] is a Swedish electric car manufacturer which acquired the assets of Saab Automobile from a bankruptcy estate in 2012. NEVS is the trademark of the company's products including the first electric vehicle based on the 9-3 platform which was to start in 2017.
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Type | Subsidiary |
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Industry | Automotive |
Predecessor | Saab's factories and assets |
Founded | 2012 |
Headquarters | , Sweden |
Number of locations | Fuzhou, China Toronto, Ontario, Canada Phnom Penh, Cambodia |
Key people | Stefan Tilk (President) |
Products | Automobiles |
Number of employees | 1000+ (2018)[1] |
Parent | China Evergrande New Energy Vehicle Group |
Website | www |
On 31 August 2012, NEVS acquired the main assets of the Saab Automobile bankruptcy estates.[3]
In December 2015 the company signed a strategic collaboration agreement with the Chinese company Panda New Energy, an energy vehicle leasing company that focuses on limiting emissions. According to the agreement, NEVS will provide Panda with 150,000 9-3 sedan electric vehicles until the end of 2020.[4]
NEVS signed a battery contract with Contemporary Amperex Technology in 2017.[5]
In 2017, DiDi announced to place a SEK 4 billion order.[6] However, the agreement was collapsed.[7]
In early 2019, NEVS acquired a 20% stake in Koenigsegg for €150 million. Koenigsegg has since then bought the stake back from NEVS[8]
Chinese real estate conglomerate Evergrande Group, via its listed subsidiary: Evergrande Health Industry Group (Evergrande Health; SEHK:708), acquired 51% of the shares in NEVS in January 2019.[9]
In July 2020, Evergrande Health announced plans to privatizate NEVS by acquiring all the shares of NEVS.[10] The company also announced a rebranding to China Evergrande New Energy Vehicle Group.
In 2021, it was reported that Evergrande was deep in debt[11] and so was trying to sell NEVS to various Chinese investment firms, such as the Xiaomi Consortium.[12][13] If all of Evergrande's automobile division is sold to a new owner, it is likely that sister brand Hengchi[14] will be the marque that will survive, as NEVS has struggled to put their version of the Saab 9-3 into production at their Tianjin plant.
NEVS currently only sells vehicles in China.
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