29 January 2019,
Ängelholm, Sweden

Koenigsegg AB is forming a strategic partnership with NEVS AB, enabling the development of parallel vehicle models in slightly higher volumes with emphasis on electrification, as well as strengthening growth opportunities in the hyper car segment. NEVS is making a capital injection of EUR 150 million, thereby taking a 20 percent minority stake in Koenigsegg’s parent company.

Additionally, the parties are forming a joint venture to expand into new market segments where NEVS AB is contributing USD 150 million in starting capital for a 65 percent stake and Koenigsegg obtains 35 percent by contributing primarily with intellectual property, technology licenses, and product design.

The partnership will deepen an already existing collaboration between Koenigsegg and NEVS, creating synergies between their geographical footprints, experiences and competencies.

Koenigsegg already has a distinguished unique market position for hyper cars, and through the additional joint venture NEVS and Koenigsegg are partnering up to develop a product for new and untapped segments, leveraging both of the companies’ strengths.

Through NEVS production facilities in Trollhättan, Koenigsegg will access additional capabilities as well as benefiting from the extensive automotive knowledge in the region, whilst maintaining their centre of excellence in Ängelholm. Alongside NEVS capacity for production in Trollhättan and China, NEVS through its majority owner Evergrande, has a wide distribution platform and channels through ownership in one of China’s largest car retailers.

“Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products. This partnership will create the best conditions for Koenigsegg to accelerate growth in the hyper car market, as well as enabling us to break ground into an untapped market segment together with NEVS. We very much look forward to working together with NEVS to develop products that ensure a sustainable future”, says Christian von Koenigsegg, Founder and CEO of Koenigsegg.

“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 AB.

10 comments

  1. Comment by Lukas

    Lukas January 29, 2019 at 16:16

    Does this mean that Koenigsegg is going to compete with the likes of Lamborghini, Ferrari and McLaren to name a few supercar companies? Is this the end of the ultra-rare hypercar-brand that we know and love?

    • Comment by Christian Wilson

      Christian Wilson January 30, 2019 at 13:00

      I highly doubt NEVS is interested in making sportscars. With regards to their website it looks like they’re developing futuristic, super practical, autonomous, electric vehicles. So maybe they’ll make a Tesla competitor, but most likely I think they will make something more practical together, like a city car.
      An electric AWD wagon would be cool though and would certainly keep the Swedish spirit alive.

  2. Comment by Samuel Höglund

    Samuel Höglund January 29, 2019 at 16:49

    Am I to understand that Koenigsegg is currently valued at EUR 750 million?! Or is the USD 150 million used to capitalise the joint venture included in the capital injection of EUR 150 million?

  3. Comment by Gert Archius

    Gert Archius January 29, 2019 at 18:10

    Second time around. Good luck!

  4. Comment by Mark A.

    Mark A. January 29, 2019 at 20:11

    Sounds very interesting, but I guess I missed some news along the way over the past year. What was the “already existing collaboration between Koenigsegg and NEVS” before this announcement?

    I look forward to hearing more about the “untapped market segment” that will be the focus of the new joint venture.

    • Comment by Timothy K

      Timothy K January 31, 2019 at 11:52

      I’m not a 100% sure what kind of collaboration they had before, but I do know that Koenigsegg got to borrow NEVS test track in Trollhätta, Sweden.

  5. Comment by jose Fernandez

    jose Fernandez January 30, 2019 at 03:53

    Making the Koenigsegg electric kills the point of a sport car, .No sound or anything makes the car boring. But I’m guessing everyone wants to be a follower. I see hybrid a better option.

  6. Comment by Igor Trkulja

    Igor Trkulja January 30, 2019 at 16:32

    I don’t think Koenigsegg will go full-electric with all of their vehicles. Maybe some. But what if they want to offer non-supercar models? A Koenigsegg sedan or a wagon?

    NEVS will surely benefit from Koenigsegg. I watched videos about Koenigsegg engines without the camshaft, and I was stunned! Swedish engineering is something really unique.

    NEVS can then offer models with increased fuel efficiency and lower pollution. IF they want to make something non-electric.

    If nothing else, technology is going to be exchanged, which is a good thing.

  7. Comment by Remco de Haan

    Remco de Haan January 30, 2019 at 20:40

    I would be interested in an affordable Sonett like hyper car based on phoenix platform and free valve combustion engine 🙂 (Sorry, just dreaming)

  8. Comment by Carlos Aldrete

    Carlos Aldrete January 31, 2019 at 19:43

    Noo! Why. The koenigsegg we all know and love makes cars in small numbers. It is a stand alone company that makes beautiful, powerful, and loud cars. Please keep it at least hybrid like the regera.

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