NEVS

From Wikipedia, the free encyclopedia

NEVS AB
TypeSubsidiary
IndustryAutomotive
PredecessorSaab's factories and assets
Founded2012; 11 years ago (2012)
Defunct2023
FateLiquidated by owner (Evergrande Group)
Headquarters,
Sweden
Number of locations
Fuzhou, China
Toronto, Ontario, Canada
Key people
Stefan Tilk (President)
ProductsAutomobiles
Number of employees
1000+ (2018)[1]
ParentChina Evergrande New Energy Vehicle Group
Websitewww.nevs.com

NEVS AB (an abbreviated form of "National Electric Vehicle Sweden")[2] was a Swedish electric car manufacturer which acquired the assets of Saab Automobile from a bankruptcy estate in 2012. NEVS was the trademark of the company's products including the first electric vehicle based on the 9-3 platform which was to start in 2017. The company was closed in March 2023,[3] with Polestar interested in buying the former Trollhättan factory.[4]

History[edit]

On 31 August 2012, NEVS acquired the main assets of the Saab Automobile bankruptcy estates.[5]

In December 2015 the company signed a strategic collaboration agreement with the Chinese company Panda New Energy, an energy vehicle leasing company that focuses on limiting emissions. According to the agreement, NEVS will provide Panda with 150,000 9-3 sedan electric vehicles until the end of 2020.[6]

NEVS signed a battery contract with Contemporary Amperex Technology in 2017.[7]

In 2017, DiDi announced to place a SEK 4 billion order.[8] However, the agreement was collapsed.[9]

In early 2019, NEVS acquired a 20% stake in Koenigsegg for €150 million.[10] Koenigsegg has since then bought the stake back from NEVS.[11]

Owners and management[edit]

Chinese real estate conglomerate Evergrande Group, via its listed subsidiary: Evergrande Health Industry Group (Evergrande Health; SEHK:708), acquired 51% of the shares in NEVS in January 2019.[12]

In July 2020, Evergrande Health announced plans to privatizate NEVS by acquiring all the shares of NEVS.[13] The company also announced a rebranding to China Evergrande New Energy Vehicle Group.

In 2021, it was reported that Evergrande was deep in debt[14] and so was trying to sell NEVS to various Chinese investment firms, such as the Xiaomi Consortium.[15][16] If all of Evergrande's automobile division is sold to a new owner, it is likely that sister brand Hengchi[17] will be the marque that will survive, as NEVS has struggled to put their version of the Saab 9-3 into production at their Tianjin plant.

Liquidation[edit]

In 2023, it was announced that NEVS would enter a permanent "Hibernation Mode" to avoid bankruptcy, which will essentially liquidate the company.[18]

Vehicles[edit]

  • 9-3 EV (2013–2014; 2019–2022), a compact electric sedan based on the Saab 9-3.[19]
  • Sango, a prototype self-driving 6 passenger vehicle for city mobility.[20]
  • Emily GT (2020), a cancelled project for an electric sedan designed by Simon Padian.[21][22]
  • Emily GTO, a planned convertible version of the Emily GT.[23]

See also[edit]

References[edit]

  1. ^ "NEVS Annual Report 2018" (PDF). NEVS. Retrieved 12 January 2020.
  2. ^ "Koenigsegg to accelerate growth in the hyper car market with EUR 150 million funding from NEVS (National Electric Vehicle Sweden)". News.EuropaWire.eu. 30 January 2019. Retrieved 29 October 2020.
  3. ^ Gauthier, Michael (12 March 2023). "Saab's Ghost Comes Back To Haunt Once Again As NEVS Goes Into "Hibernation Mode"". Carscoops.
  4. ^ Anderson, Brad (24 April 2023). "Polestar To Open New R&D Facility At Former Saab Factory". Carscoops.
  5. ^ "About us". NEVS. Retrieved 26 September 2017.
  6. ^ "China's Panda New Energy places $12bn-order for Nevs electric cars". Yahoo!. AFP. 17 December 2015. Retrieved 18 September 2020.
  7. ^ Lambert, Fred (1 March 2017). "Chinese battery maker signs massive supply contract with NEVS ahead of build out of new Gigafactory-size plant".
  8. ^ ""Kinas Uber" går in i Nevs - DN.SE". 26 October 2017. Archived from the original on 26 October 2017.
  9. ^ Lambert, Fred (11 April 2018). "Didi reportedly pulls out of massive electric car order with NEVS". electrek.co. Retrieved 18 September 2020.
  10. ^ Petrány, Máté (29 January 2019). "Koenigsegg Sells a 20-Percent Stake to Company That Owns Saab's Assets". Road and Track. US. Retrieved 17 March 2019.
  11. ^ "Koenigsegg regains full ownership over the Gemera production company". News Cision.
  12. ^ "NEVS - Evergrande Group new main owner in NEVS AB" (Press release). NEVS. Archived from the original on 21 January 2019. Retrieved 29 January 2019.
  13. ^ 【港股追蹤】恒大健康改名「恒大汽車」 市值2600億直迫地產旗艦. Hong Kong Economic Times (in Chinese (Hong Kong)). 28 July 2020. Retrieved 18 September 2020.
  14. ^ "5 things to know about the Evergrande crisis: A simple breakdown". 24 September 2021.
  15. ^ "Saab-Assets Owner NEVS Could be Sold off to Xiaomi Consortium". 24 August 2021.
  16. ^ "NEVS President Confirms Evergrande Exploring Sale, Says Several Groups Interested in Last Remnants of Saab". 15 October 2021.
  17. ^ "Hengchi Storms Shanghai Show with Nine New Models". 19 April 2021.
  18. ^ "NEVS - China Evergrande Group gives NEVS New Business Directions". www.nevs.com. Retrieved 23 March 2023.
  19. ^ "NEVS launches electric-car output with Saab 9-3 platform in China". Automotive News Europe. 9 July 2019.
  20. ^ "NEVS launches PONS – the first mobility ecosystem with autonomous vehicles for city needs". Mynewsdesk. Retrieved 30 December 2020.
  21. ^ Bell, Sebastien (27 April 2023). "The Secret NEVS Emily GT Project Is The Electric SAAB That Never Was". Carscoops.
  22. ^ "NEVS Emily GT: Saab engineers shock with 621-mile EV". Autocar. 28 April 2023.
  23. ^ Anderson, Brad (2 May 2023). "NEVS Designed A Convertible 'GTO' Version Of The SAAB-Like Emily EV Before It Was Shuttered". Carscoops.

External links[edit]