Evergrande-backed NEVS acquired 20% stake in Koenigsegg.

NEVS is making a capital injection of EUR150m, thereby taking a 20% minority stake in Koenigsegg’s parent company. Koenigsegg Automotive is a globally leading producer of exclusive hyper cars based in Sweden. “Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. To be able to expand our investment in the Swedish automotive industry through a company that we know and have an established relationship with, is an important step for us. We have both competencies and facilities to support Koenigsegg on their journey forward, something we look very much forward to”, says Kai Johan Jiang, Chairman of the Board of Directors at NEVS. Additionally, the parties are forming a joint venture to expand into new market segments where NEVS is contributing $150m in starting capital for a 65% stake and Koenigsegg obtains 35% by contributing primarily with intellectual property, technology licenses, and product design.