There will soon be a press release by NEVS on the Chinese joint venture. Meanwhile Karl-Erling Trogen talked to P4 Väst:
- – We have after a long period of negotiations, which started in October, announced an agreement with Qingdao Municipality that they take over a 22-percent share in Nevs, says Karl-Erling Trogen, chairman of Nevs.
– There are two main purposes, we have a strong financial partner, so that we can fulfill our business plan, and the second is that we get access to the Chinese market.
According Nevs Qingdao will through its investment company invest two billion SEK in Nevs as a start. Qingdao will after an issue of new shares take a 22 percent stake in Nevs.
Further investments will be made in a joint venture in China.
– Vehicles based on new energy are the future. Qingdao will take an active role in this development, says Qingdao Mayor Zhang Xingi in the Nevs press release.
The agreement ensures that Nevs is prepared for an expansion in China as demand grows. Before that, production in Trollhättan is close at hand.
– The base of our business is in Trollhättan and to provide customers with cars from Trollhattan, but further expansion will take place in Qingdao, a gradual build that will go in line with customer demand. But the base is Trollhattan, says Karl-Erling Trogen.
Trollhättan is still the headquarter for product development and production under Nevs, but Qingdao will be the hub for Nevs focus on China as a market.
To me this does not sound bad at all. It’s a step towards new life in the Trollhättan factory plus a partner and an entry into one of the most important markets.