Automakers Koenigsegg and NEVS decide to join forces

Automakers Koenigsegg and NEVS decide to join forces

January 30, 2019 0 By autotimesnews

Swedish hypercar manufacturer Koenigsegg and the company NEVS, which specializes in the creation and production of electric vehicles, have decided to enter into an agreement.

According to official data, the Swedish company National Electric Vehicle Sweden (NEVS) has spent 150 million euros to acquire a 20 percent share of the Koenigsegg brand. It is reported that companies intend to jointly develop cars and focus on electric models.

At the moment, NEVs and Koenigsegg do not provide specific information about the future of their alliance, but according to some sources this will be a “partnership in product development for new and unused segments of the automotive industry, which will take advantage of both companies.”

As part of this deal, NEVS and Koenigsegg are also creating a new joint venture that will deal with intellectual property, technology licenses and product design. NEVS owns a 65% stake in this business, while Koenigsegg controls the remaining 35%.

One of the main advantages of the manufacturer of hypercars – the company Koenigsegg, from this agreement is to gain access to the NEVS plant in Sweden. The brand can also take advantage of the distribution channels of its new partner in China, which will help open up new markets.

In 2009, Koenigsegg made a very serious attempt to buy the Swedish car brand Saab, but the deal did not take place. Later, the Chinese National Modern Energy Holdings Ltd and the Japanese Sun Investment LLC merged to create NEVS, which later bought Saab in 2012.