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by Alphie

Press-release: Nevs and Dongfeng tie-up for long-term strategic cooperation

August 17, 2015 in NEVS, News, Press Releasse

National Electric Vehicle Sweden AB (Nevs) and Dongfeng Motor Corporation (Dongfeng) signed a strategic cooperation agreement on August 17, 2015 to achieve global industrial synergies.

Since July 2015, Nevs has started working with Dongfeng on complete vehicle development projects to enhance Dongfeng’s technical strength and improve Nevs’ own development capability. Now both parties have agreed to expand their cooperation from technical development to further business areas such as global purchasing and distribution network.

Dongfeng has formed several strategic long term partnerships with other international major car manufacturers including AB Volvo and as a 14 percent shareholder of PSA. Dongfeng Motor, with several JVs in China including Peugeot, Citroën, Renault, Nissan, Infinity, Honda and Kia, is one of the world’s largest automobile companies, with an annual output over 3.83 million units in 2014 and 1.83 million in the first half of 2015. A long-term and stable alliance with Dongfeng is of great significance for Nevs to achieve its business opportunity.

According to the agreement, Dongfeng will support Nevs on the construction of new energy vehicles production and R&D in Tianjin and the formation of Nevs’ sales and service with support from Dongfeng’s dealer network. Dongfeng will also support Nevs to achieve the new energy vehicle mass production.

Nevs will support Dongfeng on their own brands to meet regulations and technical specifications of overseas markets, and assist DFM to develop important markets in Europe and North America.

“Dongfeng is one of the leading vehicle company groups in the world. Through this cooperation, Nevs’ will be able to create industrial synergies, share the development costs, expand the supplier bases and increase the overall competitiveness for our own future products. This cooperation is one of the steps for Nevs to become a front-runner in the automotive industry, with focus on electric vehicles” said Mr. Mattias Bergman, President, Nevs.

DFM Brief Introduction

Dongfeng Motor Corporation (DFM) is the third biggest Chinese state-owned automobile manufacturer headquartered in Wuhan, Hubei Province. As of December 2014, DFM had in total approximately 176 000 full-time employees.

DFM is connected with a variety of international OEMs and produces a wide range of foreign products in China including those of Peugeot, Citroën, Renault, Honda, Kia, Nissan and Infinity. The total output in 2014 was 3.83 million units with revenue of 483 billion RMB.

In 2012 DFM acquired 70% of T engineering, a Trollhättan based engineering company and a spin off from Saab Automobile Powertrain, as their first R&D center overseas.

In 2014, DFG became the 14% shareholder of PSA Peugeot Citroën.

DFM is listed as no.113 in the world on Fortune 500.

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by till72

Press Release: The construction of Nevs’ Chinese factory in Tianjin starts June 28

June 24, 2015 in NEVS, Press Releasse

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.

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Press Release: Nevs grows with two Chinese strategic part owners

May 27, 2015 in Press Releasse

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.

Mikael Östlund
Director Communications and Public Affairs

Nevs’ composition proposal approved by Court

March 23, 2015 in NEVS, Press Releasse

SAAB Factory March 2013A press release from Nevs today;

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.

Nevs applies for prolonged reorganization and composition proceedings

February 26, 2015 in NEVS, News, Press Releasse

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.

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by RobinM

Press Release from Nevs

February 19, 2015 in NEVS, Press Releasse

A composition to get Nevs out of reorganisation

National Electric Vehicle Sweden AB, Nevs, provides unsecured creditors a composition proposal in order to exit the reorganisation. It creates the conditions for completion of ongoing negotiations with two major OEMs and the implementation of a new business plan together with partners and owners. Nevs’ owners and management has noted the difficulty of completing this type of complex negotiations during a reorganisation and the risk premium it implies. The current negotiations, together with two major OEMs, are mainly focused on two tracks that are complementing each other. One is to form a technical joint venture company in Trollhättan and the other is to introduce a new majority owner in Nevs, with the plan of making Saab cars a global premium product.

–     The negotiations are progressing but we also see the complication of reaching an agreement when we are in a state of reorganisation. Our main owner has single-handedly financed the reorganisation and intends to get us out of it. In order for this to be possible financially, we need to reach a composition arrangement with the creditors, says Nevs CEO, Mattias Bergman.

The composition proposal includes a composition of 50 percent for unsecured creditors on claims over 500’000 SEK. Meaning that from a total of 573 creditors 469 will get their full claim paid, and 104 creditors will have their claims above 500’000 SEK reduced by 50 percent.

–     Provided that Nevs’ composition proposal is accepted, it is my judgment that the prerequisites are favorable to also reach an agreement with a financially strong OEM, and thereby enabling a continued business potential for the creditors. With this said, it is my opinion that accepting the composition proposal is advantageous for the creditors. The alternative of a liquidation would likely result in a lower dividend several years later, says the Administrator, Attorney Lars Eric Gustafsson, Hamilton Law Firm.

All creditors are invited to an information meeting at Nevs in Trollhättan on 26 February.

Attached is the Administrator Report. Click here to read it on Hamilton law firm’s website. 

Mikael Östlund Director Communications and Public Affairs

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Press Release: Orio acquires supplier based Nevs tools

December 19, 2014 in News, Press Releasse

Orio acquires all the supplier-based tools for production of spare parts for Saab cars

Orio AB, formerly Saab Automobile Parts AB, has signed a contract with Nevs and has acquired all the tools located at suppliers and used for producing Saab Original spare parts for all existing Saab models. This secures that Orio can ensure the long-term availability of Saab Original spare parts for all Saab cars globally.

“This is a strategically important acquisition which safeguards the production of Saab Original spare parts in the long term and ensures that we maintain our position as the sole supplier of the entire range of original parts for Saab cars.Saab owners, workshops and other customers all over the world are now guaranteed a supply of spare parts well into the future,” says Jonas Tegström, CEO of Orio AB.

The purchase includes 12,500 tools for manufacturing of spare parts for all existing Saab models. Orio previously had the right to use the tools, but has now taken over full ownership. The tools are located with the suppliers which produce Saab Original parts. The suppliers have been informed about the change of ownership and production of spare parts will continue as normal.

Nevs and Orio AB already have a cooperation agreement concerning the distribution and support of cars produced by Nevs. Nevs will still be able to use the tools to manufacture parts for its production of the Saab 9-3 and other future models.

“Saab Original parts will be an important part of our business for many years to come and owning the tools will be financially beneficial. We will continue to increase our market share for Saab Original parts and are expanding our customer base and network of workshops in order sell our products more widely,” says Jonas Tegström.

Facts Orio AB:

– The company is responsible for warehousing, sale and distribution of Saab Original parts and accessories for all Saab Service Centers and Saab Parts Centers globally and also sell logistics and technical services.
– Number of employees in Sweden: Nyköping about 260, Trollhättan about 50. The company is headquartered in Nyköping.
– The company has subsidiaries in its 9 main markets in Europe and the USA.
– Number of employees in the subsidiaries: about 55.
– Have been responsible for Saab Automobile spare parts handling since the 1960s and are the sole distributor of the entire range of Saab Original parts.
– Storage area: around 88 000 m².
– Storage: about 70 000 articles.
– Capacity: about 30 000 order lines/day.
– Shipment of 50 trucks distributed each day.
– The company is fully owned by the Swedish state.
– On November 13, 2013, the company changed its name from Saab Automobile Parts AB to Orio AB.

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Nevs and Orio AB sign agreement on global spare parts supply for the new Saab cars

April 15, 2014 in NEVS, Press Releasse, SAAB Parts

National Electric Sweden AB, Nevs, has ensured the spare parts supply for the newly manufactured Saab cars by an agreement with Orio AB, former Saab Automobile Parts AB.

The signed agreement now ensures the supply of spare parts for the new Saab customers. The global distribution agreement guarantees that spare parts for the new Saab 9-3 cars manufactured by Nevs in Trollhättan, Sweden, can also be ordered from Orio AB. For service and repairs as well as warranty measures, Nevs guides its customers to the existing Saab Service Centers.

“Our new Saab customers can now be confident that the long term supply of spare parts is ensured through established Saab service centers. Both Orio AB and Nevs are glad to forge closer ties between the two companies, as our agreement gives all Saab owners a high service level”, said Jonas Hernqvist, Director Sales and Marketing of Nevs.

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On December 2nd Orio and NEVS signed a letter of intent now they have signed the final agreement which is good for new and old Saab drivers. New drivers get access to a network of well educated Saab garages and mechanics, and old Saab drivers have now the certainty that Orio is here to stay and will have some more weight when asking a supplier to produce some spares for older Saab cars.