View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 16, 2019

Evergrande Group acquires 51% of NEVS

Evergrande Group has acquired 51% of the shares in NEVS for an undisclosed price.

By Rhodri Morgan

Evergrande Group has acquired 51% of the shares in NEVS for an undisclosed price.

NEVS was founded in 2012 by Kai Johan Jiang when he bought the bankruptcy estate after Saab Automobile in Sweden. Since then he has been major owner of the company. 

During the past six years, NEVS has built a new car manufacturing plant in Tianjin, China and now has started to build another plant in Shanghai, in addition to the one the company has in Trollhättan, Sweden. 

Evergrande Health will be the new owner, with 51% of the shares in NEVS, while Jiang, with his company, NE Holding, will have 49 %.

“NEVS will get a financial strong main owner who also is very interested in developing our vision about green mobility transport solutions for the future”, said NEVS CEO, Stefan Tilk.

“This in combination with the strong drive and entrepreneurship of Kai Johan Jiang paves the platform for a great possibility in achieving our goals.”

Evergrande Group owns four listed subsidiary companies: Evergrande Health; China Evergrande; HengTen Networks and Calxon.

It has 140,000 employees and ranks 230th in the Fortune Global 500 list and listed in the top 100 Global Brands.

Evergrande Health Industry Group listed in Hong Kong is a subsidiary company of Evergrande Group, focusing on the health industry.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto