Koenigsegg Joins Forces With Former Saab “To Expand Into New Market Segments”

Koenigsegg announced the formation of a new joint venture with Chinese-back New Electric Vehicle Sweden (NEVS), the company formerly known as Saab.

According to Koenigsegg, the new strategic partnership will enable the development of electrified vehicles in slightly higher volumes, as well as help them grow bigger in the hypercar segment.

NEVS is investing 150 million euros (around $170 million in current exchange rates) into this new partnership, taking at the same time a 20 percent minority stake in Koenigsegg’s parent company and a 65 percent stake in the joint venture, while Koenigsegg obtains the remaining 35 percent stake by contributing its intellectual property, technology licenses and product design.

It’s not the first time the two companies have worked together but their new arrangement will allow Koenigsegg to access NEVS’ production and engineering facilities in Sweden as well as its wide dealership network in China.

NEVS’ majority owner is Chinese property developer Evergrande, which also happens to own a controlling stake in Shanghai CENAT, a battery car maker in China, as well as a 32 percent stake in Faraday Future.

“Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products,” said Christian von Koenigsegg, Founder and CEO of Koenigsegg. “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.”

“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,” said Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB. “We have both competencies and facilities to support Koenigsegg on their journey forward, something we look very much forward to.”

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  • tbonesteak33

    Kind of a match made in heaven. Does this mean we may get a 4-door Koenigsegg to compete against the Panamera? One can only dream!!!!!

    • donald seymour

      I’m still on the fence about this venture.

    • Mr. EP9

      I wouldn’t count on it. I’m still waiting on them to deliver those engines that said they were going to build for Spyker.

      • Marty

        And Koenigsegg are still waiting for Spyker to meet the base conditions of the contract so that they can start building engines.

        • Mr. EP9

          Well perhaps you can share those conditions because I haven’t heard what conditions Spyker were supposed to meet.

          • Marty

            All we know is that the contract was terminated because Spyker was unable to fulfil their part. As far as I know that version of the story hasn’t been disputed by Spyker.

  • Mr. EP9

    I’m not at all optimistic given that the Evergrande group is involved and we all know about how things have been going between them and Faraday Future.

  • Blade t

    Quick way for Christian to get some extra cash in his pockets. Hopefullysome new models come out of this..

  • KAG25

    He was doing research on electric cylinder valves on them a little while ago, so he knows the engines well.

  • ErnieB

    Christian is my car hero and I am sure he will create some great collaboration with Saab or whatever it’s called.. this guy is a genius!

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