Evergrande Group Acquires 51% Of NEVS

JAN 22 2019 BY MARK KANE 9

Evergrande still interested in electric cars?

Interesting news comes about Evergrande Group, which has acquired 51% of the shares in NEVS AB in Sweden.

First we heard about Evergrande was when Evergrande Health (subsidiary of the group) invested in Faraday Future, which so far didn’t lead to commercialization of FF 91 as the future didn’t happen.

NEVS, on the other hand, is a company which several years ago acquired some assets of the bankrupt Saab Automobile in Sweden to produce – at some point in the future – electric cars in China, and maybe also for global market.

The question is why does Evergrande want to engage of Faraday Future and now NEVS?

Press release:

Evergrande Group new main owner in NEVS AB

Evergrande Group in China has acquired 51% of the shares in NEVS AB in Sweden.

Evergrande Group is a well-known company included in the Fortune Global 500 list, with its businesses covering the cultural tourism, real estate, health and hi-tech industries.

NEVS AB was founded in 2012 by Kai Johan Jiang when he bought the bankruptcy estate after Saab Automobile. Since then he has been major owner of the company.

During the six years, NEVS has built a new car manufacturing plant in Tianjin, China, and now has started to build another one, in Shanghai, China, in addition to the one the company has in Trollhättan, Sweden.

To do this and to develop new electric vehicles and transport solutions for the future requires a lot of money. Therefore, the company has for a long time looked for new strong investors.

Today, it was announced that Evergrande Health will be the new owner, with 51% of the shares in NEVS AB to become a global leader in new energy smart travel ecology. Kai Johan Jiang, with his company, NE Holding, will have 49 % of the shares.

“I am very pleased with this. It means that NEVS will get a financial strong main owner who also is very interested in developing our vision about green mobility transport solutions for the future”, says Stefan Tilk CEO at NEVS.

“This in combination with the strong drive and entrepreneurship of Kai Johan Jang paves the platform for a great possibility in achieving our goals”, he adds.

Facts on Evergrande Group

Evergrande Group owns four listed subsidiary companies, i.e. Evergrande Health (0708.HK), China Evergrande (3333.HK), HengTen Networks (0136.HK) and Calxon (000918.SZ. Evergrande Group has accumulated total assets of RMB 1.77 trillion and achieved annual sales of RMB 550 billion, paying over RMB 200 billion in taxes and donating over RMB 11.5 billion to charity. It has 140,000 employees and creates more than 2.6 million jobs every year, ranking 230th in the Fortune Global 500 list and listed in the top 100 Global Brands.

Evergrande Health Industry Group listed in Hong Kong is a subsidiary company of Evergrande Group that focuses on health industry.

Source: NEVS via Green Car Congress

Categories: China, Faraday Future

Tags: ,

Leave a Reply

9 Comments on "Evergrande Group Acquires 51% Of NEVS"

newest oldest most voted

The question is …
Walk before you try to run. Saab is in a position to offer a product to the market.

they have several new EV models coming ….
look at http://www.saabplanet.com , 2 new concepts .

Nevs will release 4 new models according to saabplanet and Nevs

SAAB has lots of products offered to the market. Cars is not one of them and never will be again.

Micke,
Try fiber in the diet.

He’s right. NEVS didn’t get the rights to use the SAAB name. It wasn’t part of the deal. The SAAB name is owned by a different company, and NEVS aren’t SAAB’s and never will be.

It’s only The name thats changed, still good quality cars, fun to drive and safe.

They may be good cars. But everything has changed. They dont have the old factories or parts access or workers. Management has changed on all levels along with board and ownership. They’ve changed the cars completely.

Hopefully all for the good. But this isn’t Saab

Not true. A big portion of the work force and management are old Saab people. The Saab spirit is still alive!

What a beautiful car was Saab 93!