Evergrande new main owner at NEVS AB

Evergrande Group has acquired 51% of the shares in NEVS AB in Sweden. Evergrande Group is a well-known company incorporated in the Fortune Global 500 list, with its works covering the cultural tourism, real estate, health and hi-tech industries.

NEVS 9-3. Photo: NEVS
NEVS 9-3. Photo: NEVS

NEVS AB was founded in 2012 by Kai Johan Jiang when he bought the bankruptcy estate after Saab Automobile. Since then he has been a major owner of the company.

During the six years, NEVS has built a new car manufacturing plant in Tianjin, China, and has now started to build another one, located in Shanghai, China, in addition to the company's one in Trollhättan, Sweden.

To do this and to develop a lot of money. Therefore, the company has been looking for a long time for new strong investors.

Today, it announced that Evergrande Health will be the new owner, with 51% of the shares in NEVS AB to become a global leader in new energy smart travel ecology. Kai Johan Jiang wants to have 49% of the shares.

"I am very pleased with this. It means that NEVS wants to get in charge of developing our vision about green mobility solutions for the future, "says Stefan Tilk CEO at NEVS.

Kai Johan Jang paves the platform for a great opportunity in achieving our goals, he adds.

Facts on Evergrande Group

Evergrande Group owns four listed subsidiary companies, ie Evergrande Health (0708.HK), China Evergrande (3333.HK), HengTen Networks (0136.HK) and Calxon (000918.SZ) Evergrande Group has accumulated total assets of RMB 1.77 trillion and achieved annual 550 million in taxes and donating over RMB 200 billion to charity It has 11.5 employees and creates more than 140,000 million jobs every year, ranking 2.6th in the Fortune Global 230 list and listed in the top 500 Global Brands.

Evergrande Health Industry Group listed in Hong Kong is a subsidiary company of Evergrande Group that focuses on health industry.

10 thoughts too "Evergrande new main owner at NEVS AB"

  • 15. January 2019 at 1: 37 PM
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    ... ..uuchuuu ... like at the fair ...... .the decades old carousel keeps turning ... .. "come on, look, get in !!" ..................... ..hope everyone is Checked screw connections and lubricated the bearings nicely, or should I say, hopefully all oil traps are cleaned and the stabilizers re-stored?

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  • 15. January 2019 at 2: 18 PM
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    And now? Hope or continue Chinese castles in the air?

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  • 15. January 2019 at 2: 42 PM
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    NEVS has planned 6 years, commissioned new facilities, and has not launched 9-3 EL.
    Now comes "fresh money". Let's see how it goes on ...

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  • 15. January 2019 at 2: 43 PM
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    Markets
    News: Dow Jones
    Evergrande buys a majority stake in Swedish electric car maker NEVS for 930 million dollars
    Print Share font size
    15.01.19 05: 54 EST
    From Kenan Machado

    HONG KONG - China Evergrande Group announced on Tuesday that it would acquire a controlling interest in the Chinese company that bought Swedish carmaker Saab out of bankruptcy. This is the anticipated surge in demand for electric vehicles in the second largest economy in the world for 930 million US dollars.

    The Chinese real estate developer is controlled by the majority-owned Evergrande Health Industry Group Ltd. Acquired 51% of the shares in National Electric Vehicle Sweden AB (NEVS), which acquired 2012's assets and intellectual property rights from Saab Automobile AB.

    China Evergrande also said that it has agreed to provide Evergrande Health with a three-year unsecured loan of 1,1 billion USD.

    NEVS has 500 employees at its R & D center for electric vehicles in Sweden, with production sites in Trollhättan (Sweden) and Tianjin (China), and plans to build another production facility in Shanghai, the company said. NEVS also has two electric vehicle models that have reached production standards, Evergrande said.

    The acquisition helps Evergrande capitalize on China's transition to electric vehicles as the country seeks to improve air quality and reduce dependence on fossil fuels. With effect to the 10. In January, China banned new companies from producing exclusively conventional vehicles, including hybrid vehicles, some of which rely on gasoline engines.

    The deal could also help Evergrande outperform its fluctuating $ 2 billion bet on Faraday Future, a Chinese startup founded by maverick Chinese billionaire Jia Yueting, and promise to partner with Tesla Inc. compete. Evergrande Health promised Evergrande Health in December for 1,2 billion dollars to 2020 in addition to the already paid 800 million dollars.

    NEVS itself has not had much luck since taking over Saab's fortune. In August 2014, she lost the right to use the name of the Swedish brand, as she sought bankruptcy protection. The losses at the end of 2017 amounted to 996,26 million Swedish kroner (111,3 million US dollars), said Evergrande in his application to the Hong Kong Stock Exchange.

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  • 15. January 2019 at 2: 46 PM
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    Evergrande Group is the largest real estate developer in China and heavily indebted. In 2019 alone, a loan repayment / debt restructuring of more than $ XNUM billion is required. The total debt of the group is around US $ 43 billion.

    In November 2018 Evergrande tried to place a bond in the market for the subsidiary Evergrande China. The group's largest single shareholder and chairman of the board, Hui Ka Yan, was forced to subscribe US $ 1.8 billion of the US $ 1.0 billion bond to earn at least US $ 800 million from third parties. He owns 78% of the group and he only approved a dividend of US $ 2018 billion in 2017 in October 1.7.

    Evergrande urgently needs fresh money, because the real estate market in China has cooled down considerably. Where should the money come from to build cars?

    Nothing about the NEVS deal is published on the Evergrande website and this information should be there because Evergrande is listed in Hong Kong and Shanghai. Such a large transaction is subject to publication and can not be found on the investor website until 15.01.2019, 14: 45 CET. (http://www.evergrande.com/ir/en/announcements.asp).

    For me, this message belongs like everything else around NEVS in the field of airlock.

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  • 15. January 2019 at 3: 08 PM
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    billions and trillions ...

    Quote: "It has 140,000 employees and creates more than 2.6 million jobs every year (...)"

    How come, it is quiet 140,000 employees creating more than 2.6 million jobs year after year, after year? ? ?

    Anyhow, well played KJJ. Now suck it down and enjoy ...

    I can not believe how stupid this world is. It still and for sure is just a poker table, offering a fortune and leaving all the rest.

    This has become SAAB's heritage? I am disgusted. Plain and simple ...

    PS
    But I am not going to shoot the messenger. Bad news for sure. Thank you anyhow ...

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  • 15. January 2019 at 4: 20 PM
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    Good news, they have bought out The other small investors so that the production can start in very good news.

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    • 16. January 2019 at 7: 22 AM
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      Every move NEVZ ever made or took points strictly towards China.
      Including the shipping of tools. No matter how hard I try, a production in THN is far beyond my imagination ...

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      • 17. January 2019 at 2: 24 AM
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        NEVs AB, is the investment, does not say if NEVs AB, actually 100% owns Chinese subsidiaries.

        I thought the production facilities in Sweden were shipped to China ....

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