Koenigsegg have announced a strategic partnership with NEVS, the company that bought Saab out of administration. The partnership is said to allow for a cash injection into Koenigsegg in exchange for technical and intellectual knowledge for NEVS. The goal is to springboard new models into production and to provide a solid basis for the electrification of future Koenigsegg models.
NEVS is making a capital injection of 150 million euros into Koenigsegg’s parent company, taking a 20 percent minority stake in the process. A further 150 million euros will be injected into a joint venture between the two companies with NEVS taking a 65 percent stake and Koenigsegg a 35 percent stake.
The joint venture will, according to NEVS, “develop a product for new and untapped segments.” Koenigsegg’s part in the venture is to contribute intellectual property (IP), technology licences and product design.
NEVS, which is majority owned by China’s Evergrande Health, owns production bases in Trollhättan in Sweden and Tianjin in China with a further facility planned in Shanghai. Despite this, it has yet to produce a vehicle. It was recently announced that $930 million had been pumped into the company. The tie up with Koenigsegg is being seen as a shortcut into vital expertise. Interestingly, the Chinese investor is a former investor in U.S. electric vehicle developer Faraday Future.
Of course, it is no secret that Koenigsegg had been working with NEVS. Twice in recent times we have reported on Agera RS models testing (and crashing) at their facilities!