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

  • Most pedestrian detection systems ‘hit pedestrians at 30mph’
    October 14, 2019
    In-car automatic emergency braking systems with pedestrian detection mostly fail to avoid hitting pedestrians - and are “completely ineffective at night”, according to new research. In shocking findings, the American Automobile Association (AAA) revealed that most systems hit a simulated pedestrian target at 30mph. A collision also occurred 89% of the time when a vehicle operating at 20mph encountered a child darting between two cars. In tests, all vehicles collided with an adult pedestrian immediately fo
    Read More
  • TRL and TomTom announce partnership on Congestion Index
    October 23, 2012
    TRL and TomTom have announced here at the ITS World Congress that they have launched a new partnership to offer more detailed analyses of the results published in TomTom’s quarterly Congestion Index which covers major metropolitan areas in Europe and North America. The partners say the collaboration will see the Congestion Index being put to practical use in solving local congestion issues. TRL traffic consultants are able to work with detailed TomTom data to produce customised analysis which meets the need
    Read More
  • Getaround launches on-demand carsharing service in Philadelphia, US
    August 14, 2018
    Getaround has launched its peer-to-peer carsharing service in Philadelphia, in Pennsylvania, US, in a bid to alleviate traffic congestion. The service also allows car owners to earn money by renting vehicles to people in their neighbourhood. The cars can be booked hourly or daily and are equipped with Getaround Connect, a patented platform which allows users to remotely locate and unlock vehicles through the company's iPhone or Android app.
    Read More
  • Conduent to deploy fare collection system across Flanders
    December 19, 2018
    Conduent Transportation is to install a fare collection system in the Flanders region of Belgium which will enable contactless bank card payments and account-based ticketing. Conduent will also operate the system for ten years on behalf of Flemish transport company De Lijn. Commuters will be able to use bank cards based on cEMV (contactless Europay, MasterCard and Visa) or use a contactless public operator payment card by the end of 2019. An aggregated payment method which accumulates transactions over t
    Read More

Highlighted Content