In mid-August this year, we heard that the owner of NEVS, the Chinese conglomerate Evergrande Group, is in big financial trouble. Therefore, almost all subsidiaries of this large Chinese holding, including the company NEVS, which deals with the development of electric cars, found themselves in financial problems. NEVS once bought the assets of the former Saab in Trollhattan, so it placed its own development department in this Swedish industry center.
Evergrande Group in Huge Financial Trouble
Indirectly, employees of the company NEVS in Sweden found out about the financial problems of their Chinese owners, by announcing a potential job loss for 300 engineers in the development center. In fact, even before that, the Evegrande Group started selling its assets, so the company started looking for a buyer for parts of this company, including the group for the development of electric cars.
Even the big company Xiaomi was in the game, as a potential buyer of NEVS, because it wants to enter this market, which has great potential in the future, after mobile phones and other gadgets.
NEVS Started Selling Industrial Equipment
However, the latest news indicates that these negotiations with potential buyers were unsuccessful. Additionally, according to world news agency reports, the debt of conglomerate Evegrande Group has reached a staggering $ 300 billion. In such financial conditions, as reported by the Swedish branch NEVS, they still have very few resources to work and the question is when this part of the business will stop. To make matters worse, according to the report of the Swedish media DI, NEVS has already started selling off property and car industrial equipment from the factory in Trollhattan?!
The End of the Saab Cars in Trollhattan
If you are “short of production equipment for a car factory”, it is very good to pick up in Trollhättan outside Gothenburg in Sweden, where the car manufacturer NEVS has put large quantities of production equipment up for sale. Among the equipment put up for auction are as many as 70 professional car production robots, lots of equipment for production management and much more.
Unfortunately, this seems to be the definitive end of the Saab car in Trollhattan. The auction is the latest proof that the NEVS project has failed, but also that the last trace of a Saab car in Trollhattan is disappearing.
NEVS ‘owner, Evergrande Group, led by environmentalist Xu Jiayin, is struggling with financial problems created in another industry. Xu Jiayin’s primary activity is in the Chinese real estate industry, and it is currently underperforming.
However, there are still more than 300 employees at the factory in Trollhättan. The question is what will happen to them…