National Electric Vehicle Sweden (NEVS) says it held what it describes as its project launching ceremony for the production as well as R&D joint ventures in Tianjin Binhai Hi-tech zone yesterday (28 June), marking the start of NEVS’ set-up in China.
NEVS’ Tianjin factory will be focused on new energy vehicles with an annual capacity of 200,000 units.
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The Swedish manufacturer will have two global production units with its Trollhättan factory to support the Tianjin site with manufacturing planning, worker training and product supply in the initial stage.
NEVS recently announced two new strategic shareholders from China in the guise of the city of Tianjin and State Research Information Technology (SRIT).
Two Chinese joint ventures are registered for production and R&D. As well as NEVS, the parties are SRIT and the IT company, Teamsun, whose investments initially will be RMB1bn (US$161m) and RMB200m respectively.
The three parties will combine their industrial and software engineering competence to co-develop future car connectivity systems.
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By GlobalDataAt the same time the Bank of China in an agreement with NEVS has granted a credit of RMB10bn to support the development of the company’s business in China.
There will be collaboration between R&D in China as well as Sweden, to generate future vehicle technology and to develop vehicles for Chinese consumers.
“The two JV establishments in Tianjin will be a strong complementary to our existing resources in Sweden and is an important first step for NEVS to pave the foundation for further development in China,” said NEVS president, Mattias Bergman.
The Tianjin city’s national level demonstration zone, THT has a long history in the automotive sector, with a focus on green innovation.
Beijing Teamsun Technology provides system integration services as well as software development and services in China and abroad. The company was founded in 1998 and is based in Beijing.
The related company Green Investment, wholly owned by Teamsuns’ major owner, is the formal shareholder.
SRIT is an IT service provider owned by China’s Research Development Centre of the State Council and the telecommunications giant China Unicom.
The wholly owned subsidiary BRSIC is the formal shareholder.
Earlier this month, NEVS told just-auto it still remains in discussion with two potential Asian partners to become a main owner.
