NEVS Cars

Chinese property giant Evergrande is increasing its ownership in NEVS

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Nev’s first electric car is based on the old Saab 9-3, but the new electric cars that the owner Evergrande wants to develop are new from the ground up. Chinese property giant Evergrande strengthens its grip on the electric car company Nevs in Trollhättan and is about to increase its ownership to close to 90 percent.

We are part of Evergrande’s plan to become one of the largest electric cars in the world,” says Nevs’s CEO Stefan Tilk for DI. At Nevs’s factories in Trollhättan, a number of new electric cars are currently being developed as Evergrande has plans for some 15 new models. In a short time, the real estate company, one of the world’s 500 largest companies, has switched to the electric car market. In January this year, 51 percent of Nevs was bought for just over SEK 8 billion.

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– “Evergrande has already invested SEK 20 billion on developing new models and building new car factories and will continue to invest through a new issue that is expected to be completed next week”, says Stefan Tilk to DI. When the new issue is complete, Evergrande is expected to own 85 to 90 percent of Nevs. In its ambition to quickly enter the global electric car market, Evergrande has in a short time acquired technology companies with ties to the electric car sphere.

Among other things, through Nevs, they have entered as a partner in the sports car manufacturer Koenigsegg.

Evergande Group

On July 22, the 2019 Fortune Global 500 list was published. China Evergrande Group (HK.03333) ranked 138th with an operating income of USD 70.48 billion, up 92 places from last year, and ranked 16th in Fortune China 500.


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