Evergrande is new main owner of NEVS

Chinese property developer Evergrande has acquired 51% of shares of NEVS (National Electric Vehicle Sweden) in a bid to help the smart car firm develop green mobility solutions. Evergrande’s business covers technology, real estate, health and cultural tourism. The deal is expected to help NEVS develop a second car manufacturing plant in Shanghai which will be used to develop electric vehicles and transport solutions. Currently, NEVS has a manufacturing plant in Tianjin, China, and Trollhättan, Sweden
January 22, 2019 Read time: 1 min

Chinese property developer Evergrande has acquired 51% of shares of NEVS (National Electric Vehicle Sweden) in a bid to help the smart car firm develop green mobility solutions.  

Evergrande’s business covers technology, real estate, health and cultural tourism.

The deal is expected to help NEVS develop a second car manufacturing plant in Shanghai which will be used to develop electric vehicles and transport solutions.

Currently, NEVS has a manufacturing plant in Tianjin, China, and Trollhättan, Sweden.

National Modern Energy Holding, a company owned by the founder of NEVS Kai Johan Jiang, will have the remaining 49% of the shares.

In September 2018, NEVS began utilising Phantom Auto’s %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external teleoperation false http://www.itsinternational.com/sections/general/products/nevs-utilises-phantom-auto-technology-to-improve-av-safety/ false false%>system to help improve safety for passengers in its electric autonomous vehicles. 

Related Content

  • December 6, 2018
    SafeRide joins Genivi Alliance to strengthen C/AV security
    Israel-based cybersecurity firm SafeRide Technologies has joined the Genivi Alliance in a bid to secure connected and autonomous vehicles (C/AVs) from hacking threats. Genivi is a non-profit alliance focused on delivering open source, in-vehicle infotainment and connected software. Hilik Stein, chief technology officer at SafeRide, says the Vsentry cybersecurity software will be available on the Genivi development platform.
    Read More
  • February 15, 2019
    China Mobile to trial 5G smart expressway in Hubei province
    Telecoms company China Mobile is working with highway operators to unveil a 5G-based smart expressway programme in China’s central Hubei province. A report by Ecns.com says the company’s Hubei subsidiary is taking steps to choose sites for 5G stations, test intelligent tolling systems and prepare for trials involving driverless cars. China Mobile’s Hubei branch is working with the group’s tech subsidiary in Shanghai and with Hubei Provincial Communications Investment to investigate how ultrafast 5G
    Read More
  • August 2, 2018
    UK government gets future mobility challenge underway
    The UK government has unveiled plans under its Future of Mobility Grand Challenge which could change how people, goods and services move around the country. These initiatives have been outlined in the Last Mile and Future of mobility call for evidence, which provide an insight into how technology could make transport safer, more accessible and greener. Under the plans, electric cargo bikes, vans, quadricycles and micro vehicles could replace vans in UK cities as part of a strategy to change last-mile
    Read More
  • June 24, 2019
    Japan to equip 5G base stations on traffic lights
    The Government of Japan is to install 5G wireless communications base stations on traffic signals nationwide by 2025. A report by The Japan News says the project is expected to reduce costs for telecommunications service providers. As part of the project, traffic signals will be equipped with devices to measure the amount of traffic. The information sent from the stations to the vehicles is expected to support autonomous driving. Japan is not the only company looking to harness the potential of 5G. In F
    Read More

Highlighted Content