Koenigsegg Partners With NEVS For Electric Cars

• Supercar manufacturer Koenigsegg has announced a partnership with Chinese-backed NEVS (National Electric Vehicle Sweden).
• NEVS has invested €150 million (~Rs 1225 crore) in the small supercar manufacturer to co-develop electric cars.
• The partnership will result in a new all-electric car company which will leverage the production facilities of NEVS in Sweden and China, as well as the technological prowess of Koenigsegg.

With the demand for all-electric cars expected to increase in the near future, two Swedish car manufacturers have partnered to cash in on the trend. While you may have heard of one of them, the other one might be a bit obscure.

Koenigsegg is a relatively small car manufacturer which has been giving the likes of Ferrari, Lamborghini and Bugatti a run for their money. For about a quarter of a century, the company has made a name for itself making fast supercars and also introducing new technological innovations, including high-performance flexible-fuelled engines, camless engines, a fixed-ratio gearbox, diamond-coated carbon-fibre, ghost light (interior lighting which seems to be emanating from solid materials) and electric motors, among others.

NEVS is a Chinese-backed company based out of Sweden. It came into prominence in 2002 when it acquired the defunct iconic car manufacturer Saab from GM. Sadly, NEVS has not made any headlines since the acquisition. It has even been using decade-old platforms from Saab to make electric-powered cars for various markets. It’s been selling an all-electric conversion of the Saab 9-3 sedan in China since 2015. However, things are about to change as the company seems to have realised that the investment in Saab has not helped it become a major electric car player. Which is why NEVS has now bought a minority stake in Koenigsegg to develop new all-electric cars for the near future.

Koenigsegg is interested in making electric cars of its own but is limited by its small manufacturing scale. The founder and CEO of the company, Christian von Koenigsegg, was especially interested in investing more in electric drivetrain technologies after Elon Musk unveiled the Tesla Roadster concept back in 2017. This Tesla boasts of many performance numbers (which remain in the ‘claimed’ category for now, but is achievable according to Christian himself) and should be capable of shaming any modern multi-million dollar supercar

NEVS needs Koenigsegg’s technical expertise to develop new electric cars which will stand out from the large number of manufacturers who are already making, or are planning to make, all-electric cars all around the world. What NEVS offers is economies of scale in manufacturing. It owns the old Saab plant in Trollhättan, Sweden as well as facilities back in China. Koenigsegg may also benefit from the distribution channels NEVS has in China and sell more of its supercars in the world’s largest automotive market.

We sure are excited to hear that there is a collaboration between a company with one of the most talented team of engineers in the world and another which is ready to spend the money to advance electric mobility. But we will have to wait and watch how this tie-up pans out. Here’s hoping for the best.