Koenigsegg AB is establishing 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, taking 20 percent minority stake in Koenigsegg's parent company. 150 percent in and out of 65 percent in terms of 35 percent in terms of equity, 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 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.
Through NEVS production facilities in Trollhättan, Koenigsegg wants access additional capabilities as well as benefiting from the extensive automotive knowledge in the region, while maintaining their center of excellence in Ängelholm. Alongside NEVS capacity for production in Trollhättan and China, NEVS through its majority owner Evergrande, has become one of China's largest car retailers.
"Koenigsegg is breaking new ground, capitalizing on our unique technology, performance track record and market position to explore and develop new products. This partnership seeks to create the best conditions for equity in accelerated growth in the hyper car market, as well as to make it possible to break into an untapped market segment together with NEVS. We are looking forward to working together with NEVS to develop 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. Koenigsegg on their journey forward, something we look forward tosays Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB.