National Electric Vehicle Sweden

Founded in 2012 after acquiring the assets of Saab Automobile AB, NEVS seeks to shape mobility for a more sustainable future through a global portfolio of fully electric premium vehicles, mobility solutions, and sustainable city offerings. NEVS' head office and main research and development facilities are located in Trollhättan, Sweden, with about 700 employees. NEVS has growing operations in China. The company's first plant in Tianjin was finalised in 2018. During 2019, a new plant in Shanghai is under construction, scheduled for production of EV cars next year. A third plant in China, Guangzhou, is also under construction. NEVS was the first joint venture company with investors from outside China that was granted a New Energy Passenger Vehicle Project investment approval by the Chinese government. By the end of 2018, NEVS was granted the certificate to manufacture and sell cars from the plant in Tianjin. At the end of January 2019, it was announced that NEVS had acquired a 20% stake in the Swedish super sport car manufacturer Koenigsegg. The two companies have also formed a joint venture (where NEVS has 65%) with the aim to develop and produce super sport cars for a new customer segment.