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  1. #1
    Frank
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    NEVS and Koenigsegg form a strategic partnership

    Press release NEVS January 29, 2019:

    Swedish car makers NEVS AB and Koenigsegg AB are together forming a strategic partnership, enabling the development of parallel vehicle models in slightly higher volumes with emphasis on electrification, as well as strengthening growth opportunities in the hyper car segment.

    NEVS is making a capital injection of EUR 150 million, thereby taking a 20 percent minority stake in Koenigsegg’s parent company.
    Additionally, the parties are forming a joint venture to expand into new market segments where NEVS AB is contributing USD 150 million in starting capital for a 65 percent stake and Koenigsegg obtains 35 percent by contributing primarily with intellectual property, technology licenses, and product design.

    The partnership will deepen an already existing collaboration between NEVS and Koenigsegg, creating synergies between their geographical footprints, experiences and competencies. Koenigsegg already has a distinguished unique market position for hyper cars, and through the additional joint venture NEVS and Koenigsegg are partnering up to develop a product for new and untapped segments, leveraging both of the companies’ strengths.

    Through NEVS production facilities in Trollhättan, Koenigsegg will access additional capabilities as well as benefiting from the extensive automotive knowledge in the region, whilst maintaining their centre of excellence in Ängelholm.

    Alongside NEVS capacity for production in Trollhättan and China, NEVS through its majority owner Evergrande, has a wide distribution platform and channels through ownership in one of China’s largest car retailers. Last week, Evergrande announced the acquisition of 58.07 percent in automobile battery maker Shanghai CENAT New Energy Co Ltd, a $156 million deal.

    “Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. 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”, says Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB.

    “Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products. This partnership will create the best conditions for Koenigsegg to accelerate growth in the hyper car 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”, says Christian von Koenigsegg, Founder and CEO of Koenigsegg.

    About Koenigsegg

    Koenigsegg Automotive AB is a globally leading producer of exclusive hyper cars in Sweden. The company was founded in 1994 by Christian von Koenigsegg, with the mission to create the perfect sports car and to enhance vehicle performance. Koenigsegg holds several patents in new technology among other for catalytic converters, and a geometry turbo system. Headquartered in Ängelholm, Sweden, the company employs a little over 115 people. For more information, please visit www.koenigsegg.com.

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  2. #2
    Frank
    Administrator nordwulf's Avatar
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    Koenigsegg press release:

    KOENIGSEGG TO EMBARK ON EVOLUTIONARY JOURNEY FOR FUTURE GROWTH

    https://www.koenigsegg.com/koenigseg...future-growth/

    29 January 2019, Ängelholm, Sweden

    Koenigsegg AB is forming a strategic partnership with NEVS AB, enabling the development of parallel vehicle models in slightly higher volumes with emphasis on electrification, as well as strengthening growth opportunities in the hyper car segment. NEVS is making a capital injection of EUR 150 million, thereby taking a 20 percent minority stake in Koenigsegg’s parent company.

    Additionally, the parties are forming a joint venture to expand into new market segments where NEVS AB is contributing USD 150 million in starting capital for a 65 percent stake and Koenigsegg obtains 35 percent by contributing primarily with intellectual property, technology licenses, and product design.

    The partnership will deepen an already existing collaboration between Koenigsegg and NEVS, creating synergies between their geographical footprints, experiences and competencies.

    Koenigsegg already has a distinguished unique market position for hyper cars, and through the additional joint venture NEVS and Koenigsegg are partnering up to develop a product for new and untapped segments, leveraging both of the companies’ strengths.

    Through NEVS production facilities in Trollhättan, Koenigsegg will access additional capabilities as well as benefiting from the extensive automotive knowledge in the region, whilst maintaining their centre of excellence in Ängelholm. Alongside NEVS capacity for production in Trollhättan and China, NEVS through its majority owner Evergrande, has a wide distribution platform and channels through ownership in one of China’s largest car retailers.

    “Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products. This partnership will create the best conditions for Koenigsegg to accelerate growth in the hyper car 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”, says Christian von Koenigsegg, Founder and CEO of Koenigsegg.

    “Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. 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”, says Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB.

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  3. #3
    Frank
    Administrator nordwulf's Avatar
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    It's too bad the deal with Koenigsegg and Saab never happened. Perhaps they could have partnered up with Spyker en Saab would still be in business.

    Large companies and capital from China are hard to resist these days..

    From Wikipedia:

    Attempted purchase of Saab

    On 12 June 2009, the media reported that Koenigsegg Group, consisting of Koenigsegg Automotive AB, Christian von Koenigsegg, Bård Eker and a group of investors led by Mark Bishop had signed a letter of intent with Saab to take over the brand from General Motors. General Motors confirmed on June 16 that they had chosen Koenigsegg Group as the buyer of Saab Automobile.[8] The deal, set to close 30 September 2009, included US$600 million in financing from the European Investment Bank, guaranteed by the Swedish government. By comparison, in 2008 Koenigsegg with its staff of 45 produced 18 cars at an average price of US$1 million each; Saab employed 3,400 workers and made more than 93,000 cars.[9]

    General Motors announced on 18 August that the deal had been signed, although certain financing details remained to be completed. On 9 September 2009, Koenigsegg announced that BAIC was going to join as a minority stakeholder in Koenigsegg.[10]

    In November 2009 Koenigsegg decided not to finalise the purchase of Saab and, therefore, left the negotiations. The timing uncertainty of finalisation of the take over was the reason Koenigsegg stated for leaving the deal.[11]

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  4. #4
    Zoltan Szabo
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    Interesting news, hopefully we will see affordable cars soon on the market. Fingers crossed.

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