National Electric Vehicle Sweden AB (NEVS), the new Swedish electric vehicle startup which recently purchased main assets of Saab, does not plan to produce electric vehicles in China, reported Beijing Times.
NEVS is a recently formed international consortium registered in Sweden. It was jointly founded by Hong Kong-based National Bio Energy Group and the Japanese risk capital firm Sun Investment, with equity ratio of 51:49.
NEVS will only make electric cars in the Saab plant in Trollhättan and does not intend to build factories elsewhere, according to Kai Johan Jiang, CEO of NEVS.
Jiang told the press earlier that NEVS is taking China as the primary market. The company is hiring skilled engineers to kick off the R&D work, which will be conducted in collaboration between Swedish, Japanese and Chinese staff.
Though NEVS claims it has no intention to establish plants in China, industry insiders do not rule out the possibility that NEVS may cooperate with a Chinese carmaker by selling part of its shares.
During an earlier interview by Auto Business, Jiang said “any company that has production capacity and advanced technology and is willing to co-develop the EVs with us could be our potential partner.”
Beijing Automotive Industry Holding Corp., which has already obtained part of Saab’s platform technologies, is deemed by analysts as one of NEVS’s possible partners.
Some even speculate that there is possibility that NEVS might join hands with Youngman, the failed suitor for the Saab assets.