Swedish automaker Koenigsegg has recently joined forces with fellow Swedish holding company NEVS, forming a strategic partnership determined to produce a new breed of electric hypercars.
National Electric Vehicle Sweden, often abbreviated to simply NEVS, acquired the assets of Saab from a bankruptcy estate back in 2012 and has recently announced a €150 million (approximately $171 million) investment in Koenigsegg, effectively taking a 20 percent minority stake in the automaker’s parent company. Koenigsegg has since stated that they intend to utilize the investment funds to enable the production of future electric hypercars.
In addition to the investment, both companies are “forming a joint venture to expand into new market segments where NEVS AB is contributing USD 150 million in starting capital for a 65 percent stake and Koenigsegg obtains 35 percent by contributing primarily with intellectual property, technology licenses, and product design.”
While the two Swedish giants have collaborated in the past, the recent partnership will serve to deepen an already existing collaboration between both companies, effectively creating synergies between their geographical footprints, wealth of experiences, and competencies.
In their most recent press release, Christian von Koenigsegg, Founder and CEO of Koenigsegg, stated:
“Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products. 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. We very much look forward to working together with NEVS to develop products that ensure a sustainable future.”
Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB, added:
“Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. 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. We have both competencies and facilities to support Koenigsegg on their journey forward, something we look very much forward to.”
While Koenigsegg has incorporated hybrid electric powertrains into their vehicle’s before, they have yet to produce a fully-electric car.