Jump to content
News
Reviews
Discussons
Activity
Create New...
Close
  • Drew Dowdell
    Drew Dowdell

    By Drew Dowdell •

    Faraday Future Investor Aquires 51% of NEVS

      Evergrande Group in China has acquired 51% of the shares in NEVS AB in Sweden

    On Wednesday, NEVS AB announced that it has a new owner. Evergrande Group's subsidiary, Evergrande Health, the main investor in Faraday Future, has acquired 51% of the share of NEVS AB. NEVS bought the remnants of SAAB after Spyker, Saab's prior owner, went into bankruptcy. 

    NEVS has been using Saab 9-3 bodies to build electric vehicles for China.  They have manufacturing plants in Tianjin China and Trollhättan, Sweden with another under construction in Shanghai China.

    NEVS AB was founded in 2012 by Kai Johan Jiang when he bought the bankruptcy estate after Saab Automobile. Since then he has been the major owner of the company. Kai Johan Jiang will hold the remaining 49% of shares through his NE Holding company.

    Faraday Future and Evergrande settled a dispute over shares earlier this month that had put the future of Faraday Future in jeopardy.  Evergrande settled by reducing its stake in Faraday from 45 percent to 32 percent.  

    Go to articles

    User Feedback

    Recommended Comments

    G. David Felt
    59 minutes ago, Drew Dowdell said:

    Why? They were known for safety.

    No disagreement about safety, I just would have thought they would have wanted a nose that reflected them than continue to use the old SAAB Nose.

    Link to comment
    Share on other sites
    Robert Hall
    5 minutes ago, dfelt said:

    No disagreement about safety, I just would have thought they would have wanted a nose that reflected them than continue to use the old SAAB Nose.

    That would require investment...looks like they spent a few bucks on a new grille and badge. 

    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

    ×

  • google-news-icon.png



×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search