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Koenigsegg, NEVS to co-develop electric vehicles

Swede dreams: Koenigsegg plans to build products for untapped segments with help from electric mobility company NEVS.

$A238m investment from NEVS for Koenigsegg to co-develop electrification strategy

Koenigsegg logo31 Jan 2019

NATIONAL Electric Vehicle Sweden (NEVS) has invested 150 million euros ($A238m) in exchange for a 20 per cent stake in Koenigsegg’s parent company, with plans for the pair to develop new electric vehicles and technology.
 
While it has not provided details about what exactly will come from the joint venture, Koenigsegg has stated that the partnership will see a product for “new and untapped segments, leveraging both of the companies’ strengths”.
 
Koenigsegg and NEVS have also started a separate project focusing on intellectual property, product design and technology licenses, of which NEVS owns the majority stake at 65 per cent.
 
As part of the deal, Koenigsegg will have access to NEVS’ Trollhattan production facilities as well as its production and distribution capabilities in China.
 
According to Koenigsegg founder and CEO Christian von Koenigsegg, the partnership with NEVS will help the brand reach new markets.
 
“Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products,” he said.
 
“This partnership will create the best conditions for Koenigsegg to accelerate growth in the hypercar market, as well as enabling us to break ground into an untapped market segment together with NEVS. We very much look forward to working together with NEVS to develop products that ensure a sustainable future.”
 
Meanwhile, NEVS chairman of the board of directors Kai Johan Jiang suggested that the brand wants to tap into Koenigsegg’s unique technology and customer base.
 
“Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind,” said Mr Jiang.
 
“To be able to expand our investment in the Swedish automotive industry through a company that we know and have an established relationship with, is an important step for us”
 
"We have both competencies and facilities to support Koenigsegg on their journey forward, something we look very much forward to."

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