German electric car start-up Sono Motors wants its own solar minivan Sion Have it made by NEVS (National Electric Vehicle Sweden) in Sweden from 2023. According to the Munich-based company, the fact that the contract maker emerged from the remains of Saab belongs to Chinese real estate giant Evergrande does not affect their own plans. This may change, as NEVS is now looking for a buyer.
Evergrande’s Swedish electric vehicle division is in talks with venture capital firms and industrial partners to find new owners. The news agency’s managing director Stephen Tilak said NEVS has funds that “will last for a while”. Reuters. He said that many investors have shown interest in the company. Tilak declined to comment on the possible ratings. A source familiar with the situation told Reuters versus up to a billion dollars.
Tilak said NEVS was discussing potential sales or other financing with primarily European and US companies, but did not wish to be named. “We are in talks with both venture capitalists and companies that have the same idea and direction and we want to benefit from our expertise,” he said. Reuters. “So they are both industrial partners and venture capitalists.”
NEVS took over what was left of Saab in 2012, when the spare parts business had already taken off. In the north Chinese city of Tinjiang, NEVS is building an electric car based on the pre-2019 Saab 9-3. In Europe, the company focuses on automotive development and manufacturing services.
Evergrande has a massive debt of more than $300 billion and is at risk of bankruptcy. NEVS laid off about half of its 650 employees during the crisis at its parent company. Tilak said the company could recruit staff to help Evergrande achieve the level of expertise in Europe should the company survive the crisis. “If Evergrande can do what they hope they can do business with, they will be interested in having a presence in Europe with infrastructure like a factory, testing and a laboratory. And we have it,” he said.
Sono Motors 2019 Notified NEVS about production at the contract manufacturer’s site in Trollhttan, Sweden. 260,000 Sion are to be built there over a period of eight years. Originally, it was to be launched in 2020, but Sion got delayed time and again. Sono Motors is currently assuming that deliveries will begin in the first half of 2023. It was last said about the problems NEVS and its parent company Evergrande had. in August: “Good news: Sono Motors production of the Cyan is not affected by the restructuring of our partner NEVS.” Further development remains to be seen.
