Nevs has signed a Strategic Collaboration Agreement with Panda New Energy Ltd., about 150,000 9-3 Sedan EV
National Electric Vehicle Sweden (Nevs) and the Chinese company Panda New Energy Co., Ltd. have signed a strategic collaboration agreement. According to the agreement, Nevs will provide Panda with 150,000 9-3 sedan electric vehicles until the end of 2020. In addition, the agreement also includes 100 000 other EV products and services from companies associated to Nevs and its owners. The total value of the agreement is 78 billion RMB.
TÜBITAK, (the Scientific and Technological Research Council of Turkey) which has been assigned to develop “Turkish National Car” and realize this important mission, has chosen National Electric Vehicle Sweden AB, Nevs, as the industrial partner for the project.
The cooperation has started in June 2015 between Nevs and TÜBITAK and future industrial synergies in terms of development and manufacturing shall be generated with this cooperation. In the short term perspective this cooperation shall put Nevs’ assets to work and shall give Turkey quick access to extensive automotive knowledge and experience.
Nevs shall also provide its know-how in the developing of the business plan and establishing of the supply and distribution chains to TÜBITAK.
Together with the new shareholders Tianjin and SRIT, the partner Teamsun as well as the cooperation with Dongfeng Motor, the cooperation with TÜBITAK is an important step in building up Nevs as a strong automotive company with industrial, technological and financial partnerships.
“I am very proud to have this strategic cooperation in place. Turkey will be a long-term partner and we will both gain a lot from this cooperation. With Turkey’s focus on electric vehicles we also see this as an important step towards our vision of shaping mobility for a more sustainable future”, said Mattias Bergman, President of Nevs.
Facts about TÜBITAK
The Scientific and Technological Research Council of Turkey, TÜBITAK, is the leading agency for management, funding and conduct of research in Turkey. TÜBITAK was established in 1963 with a mission to advance science and technology, conduct research and support Turkish researchers.
TÜBITAK is an autonomous institution and is governed by a scientific board whose members are selected from prominent scholars from universities, industry and research institutions. TÜBITAK is responsible for promoting, developing, organizing, conducting and coordinating research and development in line with national targets and priorities. Further, TÜBITAK is one of the key institutions involved in the Turkish national car project.
Nevs supports Turkey in the development of a Turkish national car – Press conference Friday at 10.00 in Trollhättan.
National Electric vehicle Sweden’s President Mattias Bergman will present the cooperation at a press conference at Nevs:
Time: Friday October 16, 10.00 CET.
Place: National Electric Vehicle Sweden, Saabvägen 5, Trollhättan.
The press conference will be broadcasted: http://saabcars.com/en/live/
A press release will be published at the time of the press conference.
Nevs has made the second and last payment of the composition to the 106 creditors today with a total amount of 231 MSEK. This means that Nevs has no longer any debts to creditors.
Nevs exited the reorganization in April 2015 with a composition proposal approved by 98.2% of the creditors. According to the composition, the last payment of the debt should be made no later than October 14, 2015.
“Being debt-free gives us stability to continue our building relationships with industrial, financial and technological partners, who are significant when it comes to develop and implement our business plan. To be able to make these payments earlier than agreed was important for us”, said Mattias Bergman, President Nevs.
In May 2015, Nevs introduced the city of Tianjin (THT) and State Research Information Technology (SRIT) as its new strategic shareholders. The investment from the new investors have been implemented as planned. The Tianjin manufacturing plant, which will be Nevs’ second global production base focused on EVs, is under construction, as a complement to the Trollhättan Factory.
NEVS is now debt free, at least according to 98,2% of its former creditors, although many said that NEVS only wanted to sell the parts and disappear.
Hope the next press-release is once again about cars and not about a financial matter.
The construction of Nevs’ Chinese factory in Tianjin starts June 28
To mark start of construction of Nevs’ New energy vehicle factory in China, and the establishment of a R&D-center, a groundbreaking ceremony will be held in Tianjin June 28.
The Tianjin manufacturing plant will be Nevs’ second global production base focused on EVs, initially for the Chinese market. Nevs’ research, development and production will be managed from its headquarters in Trollhättan.
Together with two new Chinese part owners Nevs will establish its second global factory with focus on electric vehicles and a second global research and development center in the city of Tianjin, neighboring Beijing City and Hebei Province, three highly-integrated economic regions with a population over 100 million.
With the new part owners, Tianjin city’s Tianjin Binhai Hi-tech industrial Development Area (THT), and the Beijing State Research Information Technology Co., Ltd. (SRIT), Nevs has got two new strategic partners.
Tianjin is one of the biggest coastal cities in China and has significantly promoted new energy vehicles both in the form of consumer subsidies and official procurements.
The Tianjin city’s fast growing national level demonstration zone THT embraces a long history of automotive industry. Here is where the joint venture production plant will be built. This will give Nevs a strong foothold on the increasing EV market in the area and China, as well as provide Nevs access to the existing automotive supplier base in the region.
SRIT is a pioneering IT service provider owned by China’s Research Development Center of the State Council, and the telecommunications giant China Unicom.
As software services and connectivity as well as new energy vehicles are the major and increasing trend within the automotive industry, the cooperation with SRIT and its owners will give Nevs a unique possibility to place itself at the forefront of connectivity for the future. SRIT as a partner will also open up more opportunities for Nevs.
The first car that will be produced in the plant in Tianjin is an electric vehicle based on Nevs’ technology, followed by a diversified EV and portfolio of battery electric vehicles and EVs based on Nevs’ new developed vehicle architecture.
“Nevs’ focus is to produce high quality electric vehicles with China as its initial main market. The long-term cooperation with the development area THT in Tianjin and the IT pioneer SRIT will help us achieve our vision and our goal of a global strategic presence and is an important addition to the resources we have in Trollhättan”, says Nevs president Mattias Bergman.
Director Communications and Public Affairs
The District Court of Vänersborg today approved the composition proposal earlier presented by Nevs, as the stipulated number of creditors’ votes needed for the court to decide in favor of the composition proposal was achieved.
The number of present creditors entitled to vote, and those who on beforehand had approved the proposal and signed a proxy for the Administrator to vote for them, amounted to 98,2 percent of the creditors and 98,6 percent of the amount of the debt.
The composition means that claims up to 500’000 SEK will be fully paid, and that claims above 500’000 SEK will be reduced by 50 percent. Of a total of 573 creditors 469 will get their full claim paid.
The payments will be performed in two steps. The first within 60 days from the date that the Court’s decision is legally valid, and the second step within six months from the same date. The composition as well as the operating costs for the coming months will be financed by Nevs’ main owner. Nevs intends to apply for exiting the reorganization as soon as the composition is legally valid in mid-April.
“A composition was needed for Nevs to exit the reorganization in order to be able to sign commercially viable agreements with our OEM and financial partners we have been in dialogue with for a long time. We appreciate the support from our suppliers, with whom we want to continue to develop long-term relations”, said Mattias Bergman, President Nevs.
“My duty as Administrator is to secure that the composition is favorable for both the company and the creditors. Todays’ decision creates possibilities both for the development of Nevs’ business as well as future business potentials for the creditors”, said the Administrator, Attorney Lars Eric Gustafsson, Hamilton Law Firm.
Today, Thursday February 26, 2015, National Electric Vehicle Sweden AB (Nevs) applies for prolonged reorganization and composition proceedings to the District Court in Vänersborg.
In a meeting at Nevs today, the company and the reorganization administrator will inform present creditors of the composition proposal sent earlier, together with Nevs’ goal and plan to exit the reorganization.