Big changes in Sweden. Koenigsegg AB ends its joint venture for the production of the Gemera with NEVS. The company from Ängelholm buys back the 65% share of NEVS AB and takes over the joint venture with the name “Meneko” completely. Koenigsegg thus secures the production of the brand's Super GT.
Koenigsegg takes over Meneko completely
The joint venture was in January 2019 closedn been. Koenigsegg and NEVS agreed the development and production of vehicles with alternative drives. The focus was on electrification, CO₂ neutrality and a higher production volume.
Parts of the former Saab plant were to be converted for the production of components, Koenigsegg invested heavily in the expansion of the plant in Ängelholm. While the expansion in Ängelholm continues, the components plant in Trollhättan now seems to be a thing of the past. NEVS is sinking deeper and deeper into the vortex of the crisis surrounding owner Evergrande. Fulfillment of all obligations in the “Meneko” joint venture should no longer be guaranteed.
Christian von Koenigsegg (CvD) thanked the employees of NEVS AB for the excellent cooperation. He emphasized that he would like to continue this with further projects.
Gemera from Ängelholm from 2023
For Koenigsegg, the Gemera, which is to be produced in Ängelholm from 2023, is a big step in the company's development. For the first time, 300 units of a model are to be produced. More than ever before in the history of the Swedish sports car manufacturer. Koenigsegg now employs around 500 people, while the former partner has to reduce the workforce to around 300.
For NEVS, the latest development is an additional setback. The company, already marked by the massive downsizing and the crisis of the Chinese owners, is losing another asset. However, it still has a 20% stake in Koenigsegg AB.
With images from Koenigsegg AB