Let's start the week with a little note about what could be. NEVS has a new main shareholder with Evergrande. And maybe you have to get used to the possibility that really electric cars will be built in the near future.
Of course, after almost 7 years with countless announcements, I am full of reservations. Everything is provided with at least 3 question marks, including the latest news from China. On March 16, the Evergrande Group held its global strategic summit of the “New Energy Automobile Group” in Tianjin. A big event and a huge stage for Evergrande founder Xu Jiayin.
The Press reports on 800 companies from home and abroad who were present as participants. Among them are prominent representatives of German suppliers, such as Winfried Herold, Vice President Division Chassis Technology at ZF. Xu Jiayin presented the plans of the group, which intends to become one of the largest providers of technologies for alternative drive vehicles in the next 3 to 5 years.
The future "backbone of the Chinese auto industry" does not yet have its own vehicle at the start. Evergrande's first electric car was reported ready for use on Saturday. The media assume that it will be sold worldwide. This probably means the NEVS 9-3 EV.
Big stage in Tianjin to show strength
The main purpose of the major event in Tianjin was to demonstrate strength. To impress suppliers as potential partners, to send a message to Beijing, and to show that a big player is taking the stage here. With its own battery production, NEVS and subsidiaries, the Evergrande Group forms the complete chain of value creation from development to the consumer. In theory, you are well positioned with it. A prognosis of what will become of it and what it will mean for Trollhättan is currently impossible.
Too many questions about the strategic course are open, as well as the issue of long-term financing. Does the multiple billionaire Xu Jiayin have the necessary funds and does he enjoy the goodwill of the administration? Because the future depends not only on Evergrande, but also on the authorities. Koenigsegg, where NEVS will be the new shareholder and majority shareholder of a joint venture, expects to pay 300 Millionen € until the end of the month. We will report.