China’s real estate giant Evergrande Group announced on June 29, through a launch ceremony in Tianjin, that the company’s all-electric NEVS 93’s are finally ready to be delivered to customers.
Evergrande Group acquired 51 percent of the shares in NEVS AB in Sweden earlier in the year, bolstering its founder’s ambition to diversify from real estate into the emerging industry of next-generation automobiles. It then subsequently acquired British automotive technology company Protean Electric in March to speed the development of innovative propulsion technologies for next-generation electric and autonomous vehicles.
As an all-purpose, practical and economic sedan, the NEVS 93 is a fully electrical car and a culmination of Swedish automobile company Saab’s 75-year-long technological and research effort. It is marketed as a power-efficient, safe and intelligent electric vehicle with great driving control. Evergrande has stated that the vehicles are now fully ready to be mass produced for consumers in China.
In 2017, NEVS built a manufacturing plant in Tianjin tasked with building the NEVS 93s in a preliminary production run of 50,000 units, followed by a scaled-up run of 220,000 units. The Swedish company has now begun building other manufacturing plants in various parts of China including Shanghai, Guangzhou, and Shenyang.
NEVS bought Saab Automobile’s remaining assets, following the Swedish car company’s 2012 financial collapse. Since then, NEVS has tried to revive Saab, forming a series of partnerships with a range of Chinese and Japanese technology companies.
Evergrande Group is a well-known company included in the Fortune Global 500 list, with its businesses covering the cultural tourism, real estate, health and hi-tech industries.
Featured photo credit to 36kr