Real estate conglomerate China Evergrande Group brought a new financial injection and is the new majority owner of the NEVS company. Evergrande Group in China has acquired 51% of the shares in NEVS AB in Sweden.
Evergrande Group is a well-known company included in the Fortune Global 500 list, with its businesses covering the cultural tourism, real estate, health and hi-tech industries. In 2018, the “Evergrande Group” sold 52.4 million square meters of properties at an average price of 10,515 yuan (1,556.33 US Dollar) per square meter.
NEVS AB was founded in 2012 by Kai Johan Jiang when he bought the bankruptcy estate after Saab Automobile. Since then he has been major owner of the company.
During the six years, NEVS has built a new car manufacturing plant in Tianjin, China, and now has started to build another one, in Shanghai, China, in addition to the one the company has in Trollhättan, Sweden.
To do this and to develop new electric vehicles and transport solutions for the future requires a lot of money. Therefore, the company has for a long time looked for new strong investors.
Today, it was announced that Evergrande Health will be the new owner, with 51% of the shares in NEVS AB to become a global leader in new energy smart travel ecology. Kai Johan Jiang, with his company, NE Holding, will have 49 % of the shares.
“I am very pleased with this. It means that NEVS will get a financial strong main owner who also is very interested in developing our vision about green mobility transport solutions for the future”, says Stefan Tilk CEO at NEVS.
“This in combination with the strong drive and entrepreneurship of Kai Johan Jang paves the platform for a great possibility in achieving our goals”, he adds.
Interesting, In June 2018, Evergrande officially became a heavy shareholder of US new-energy vehicle company Faraday Future, which has gotten Evergrande’s first foray into high-tech industry to a great start. This purchase has been a great success in not only introducing world’s leading-edge electric automotive technology and top-notch scientific and technological research teams to China but also advancing the transformation and upgrade of China’s automobile industry, thus turning China into a powerful automobile innovator from a large automobile manufacturer.
Faraday Future (FF) possesses 1,000-plus expert teams and 380-odd patents in new energy vehicle, computer algorithm, Internet, information system, artificial intelligence and other fields all over the world. Significantly, FF91, as FF’s first high-end vehicle model, promises multiple trail-blazing and tradition-breaking driving experiences and boasts many world-class performance and technology indicators.
With its official inauguration in Guangzhou, Evergrande FF Intelligent Automotive (China) Group will take charge of technological R&D and production & operation management of FF in China as FF’s operation headquarters in China. In a decade down the line, the Group will establish five R&D and production bases in East China, West China, South China, North China and Central China. As a result, its annual output is expected to reach 5 million.
Facts on Evergrande Group
Evergrande Group owns four listed subsidiary companies, i.e. Evergrande Health (0708.HK), China Evergrande (3333.HK), HengTen Networks (0136.HK) and Calxon (000918.SZ. Evergrande Group has accumulated total assets of RMB 1.77 trillion and achieved annual sales of RMB 550 billion, paying over RMB 200 billion in taxes and donating over RMB 11.5 billion to charity. It has 140,000 employees and creates more than 2.6 million jobs every year, ranking 230th in the Fortune Global 500 list and listed in the top 100 Global Brands.
Evergrande Health Industry Group listed in Hong Kong is a subsidiary company of Evergrande Group that focuses on health industry.