Koenigsegg teamed up with electric Saab

Koenigsegg teamed up with electric Saab

January 29, 2019 0 By autotimesnews

Companies will develop new, more mass models together.

The Swedish brand Koenigsegg and the Saab-owned consortium NEVS of Saab have announced the formation of a strategic partnership for the parallel development of more mass models. As part of the agreements reached, NEVS invests EUR 150 million in Koenigsegg, receiving in return a 20% minority stake in the company.

A message on the Koenigsegg website states that the companies will form a joint venture. At 65 percent, it will be owned by NEVS, which will provide start-up capital of $ 150 million, and by 35 percent – Koenigsegg. It is assumed that the manufacturer of hypercars will share with the partner intellectual property, technology licenses and will design the product. Probably one of these technologies can become an engine without a camshaft, developed by a subsidiary of FreeValve.

Koenigsegg suggests that cooperation with NEVS will strengthen the brand’s position in the hypercar market, as well as develop products for new and unused segments. What kind of development in question is not reported yet.

The National Electric Vehicle Sweden (NEVS) consortium, 51 percent of which is now owned by the Chinese Evergrande Group, acquired the assets of Saab in 2012. A year later, the company resumed production of the 9-3 model, and in 2014 began selling in Sweden. In August of the same year, NEVS declared bankruptcy and lost the right to use the Saab trademark. Now the company produces electric cars based on Saab 9-3, but under its own brand.