GSR wants to invest 14 MUSD (about 500 BSEK) in NEVS on Wednesday, March 4, in presence of Swedish Prime Minister Stefan Löfven.
At the same time, GSR unveiled plans to start production of EV batteries on NEVS premises in Trollhättan.
NEVS and GSR have been in cooperation for a long time. On Wednesday, these common plans were confirmed by a formal signing ceremony at NEVS in Trollhättan.
GSR Capital has recently invested money in NEVS. Now GSR confirm the interest by investing heavily in NEVS. GSR wants to invest 500 MUSD.
The investments will be made as a convertible loan that will be converted to shares in NEVS AB.
"This means a lot for our company. Stefan Tilk, President and CEO of NEVS, said: "We have been looking for a long term partner for GSR Capital.
"GSR does not want to give it a financial injection, which makes it very much involved in electric vehicles and business EVs, which makes this match even better," he adds.
GSR Capital has plans, via Nissan Batteries, to establish production of batteries for electric vehicles in Trollhättan.
The EV batteries produced in Trollhättan wants to be aimed at NEVS vehicles but also for other actors in Sweden.
"NEVS fulfills all the requirements; Perfect location, good supply of electrical power, close to the river, roads and trains, and are located in the industrial heart of Sweden, with NEVS, Volvo and many other companies in the automotive industry. Within NEVS premises there is also access to land to build the factory ", Stefan Tilk states.
October 2017, NEVS signed an agreement on cooperation with DiDi Chuxing, China's ride hailing giant.
Already in December 2012, GSR decided to invest in DiDi Chuxing GSR became DiDi's first institutional investor.
Kai Johan Jiang, main owner of NEVS, said, "Our relations with DiDi Chuxing have been important in the discussions with GSR and in finalizing this deal."
GSR Capital focuses on electric vehicles, clean energy, modern agriculture, biotechnology, wireless solutions and internet finance.
Kai Johan Jiang concludes: "With GSR's investments, NEVS wants to take further steps to the green goal with sustainable mobility solutions of the future".