NEVS before complete takeover by Evergrande

Breaking news! NEVS is about to be completely taken over by Evergrande. The group of companies announced that it would like to take over the outstanding shares within a very short time. Evergrande currently holds 82.4% of the shares. The full takeover is expected within one day.

NEVS before full takeover by Evergrande
NEVS before full takeover by Evergrande

Evergrande takes control in Trollhättan

With this step, Evergrande ensures complete control over its production facilities and research and development facilities. Trollhättan has so far been the group's only plant outside of China. The takeover is completed before Evergrande launches the first vehicle. The presentation of the SUV is expected in the next few weeks.

The announcement was rated positively on the stock exchange. The Evergrande share was up 13.72% in the morning. In the meantime, it eased slightly, but is still up more than 9%.

In January 2019, the Evergrande Group rose as the new one with the acquisition of 51% of the shares Main shareholder at NEVS. Just 10 months later, the company invested another $ 3 billion, increasing the stake to 82.4%. The group terminates one for the remaining 17.6% today Purchase price from $ 379 million.

The complete takeover is not unexpected. In the past few weeks, the Shareholder structure adjusted by NEVS Shanghai. Personnel changes and departures were observed in Trollhättan. Also keep in the background speculation about a possible collaboration between Polestar and Koenigsegg. NEVS holds 20% of the manufacturer of exclusive sports cars, there is a joint development company.

11 thoughts too "NEVS before complete takeover by Evergrande"

  • Surprise? It looks different.
    As an avid blog reader, it was already clear that NEVS would not get wheels rolling ..., yes, years (!) Had time to bring vehicles (old 9-3) and batteries together. Nothing to show off.
    I am excited and interested in how things will go with Evergrande.
    Thanks for the info.

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  • I am amazed where Evergrande takes the capital from ?!

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    • You cannot and must not rate Evergrande by European or Western standards. The rules are different, it's politics. Evergrande will build the largest stadiums in the world in China. Why? Because in Corona times it is a statement of strength. Not by Evergrande, but by the system. Building a completely new, innovative car brand (mobility service provider) is a similar sign and must be taken very seriously.

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  • Hopefully the new company will not put together a hatschi (or whatever the name of the vehicle is) with a conventional electric drive.
    Which customers should buy something like this?

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  • This shouldn't be an Evergrande review now, but a question without bias 🙂
    You are right, European thinking is probably out of place.

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  • It is still unknown whether future vehicles from Trollhättan could be given the status of the former SAAB automobiles. Contemporary drive technologies, clear Nordic design and extensive safety equipment are particularly impressive here.

    In the case of adequate vehicles, Evergrande should then also take care of regaining the SAAB brand name - sounds a bit more familiar than Hengchi or another new brand name.

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  • I'm now hopeful that the branch in Trollhaettan is going in the positive direction. The only plant outside China from Evergrande. What is in store for us?

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  • As of today (22.06.20) the deal should be perfect

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  • Evergrande is a synonym for Chinese megalomania without measure and goal - especially without goal ... or with the goal "World Domination"? We have had many times and just gambled away the Chinese future and a better life for 1,4 billion Chinese ...

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