Currently reading: Reborn Saab maker teams up with hypercar firm Koenigsegg

Swedish-based companies team up to develop hypercars and expand into 'untapped' market segments

Swedish firm Koenigsegg is set to expand beyond hypercar production after securing a £130 million investment from Chinese-owned firm New Electric Vehicle Sweden (NEVS).

In the strategic partnership, NEVS, which was formed out of the assets of Saab when the car maker folded in 2012, has taken a 20% stake in Koenigsegg’s parent company.

The two firms will also establish a joint venture that will develop a project “for new and untapped segments”. NEVS will invest a further £130 million and take a 65% stake in the joint venture, while Koenigsegg will own the remaining 35% and contribute "intellectual property, technology licenses and product design".

The two Swedish companies have previously worked together on a number of projects, but the new agreement will lead to them joining forces to develop higher-volume electrified vehicles and build on Koenigsegg’s record in the hypercar market. 

Koenigsegg engineers will be able to make use of NEVS’ engineering facilities and other resources in Trollhättan.

Christian von Koenigsegg said the deal would allow his eponymous company to “accelerate growth” in the hypercar market. It currently produces the 277mph Agera RS and is developing the Regera, which is set to feature a 600bhp hybrid powertrain.

Developing products with NEVS would help Koenigsegg “ensure a sustainable future”, he added.

Chinese property developer Evergrande Group recently acquired a controlling stake in NEVS, which produces an electric car based on the old Saab 9-3 saloon in Tianjin, China. It's also developing an electric SUV, the 9-3X, primarily for the Chinese market.

Evergrande owns a large car dealership network in China, which could be used to substantially expand the reach of Koenigsegg there.

In a separate deal, Evergrande recently took a 58.07% stake in Chinese battery maker Shanghai CENAT New Energy Company Limited. It also owns 32% of troubled American electric car start-up Faraday Future.

Read more

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James Attwood

James Attwood, digital editor
Title: Acting magazine editor

James is Autocar's acting magazine editor. Having served in that role since June 2023, he is in charge of the day-to-day running of the world's oldest car magazine, and regularly interviews some of the biggest names in the industry to secure news and features, such as his world exclusive look into production of Volkswagen currywurst. Really.

Before first joining Autocar in 2017, James spent more than a decade in motorsport journalist, working on Autosport, autosport.com, F1 Racing and Motorsport News, covering everything from club rallying to top-level international events. He also spent 18 months running Move Electric, Haymarket's e-mobility title, where he developed knowledge of the e-bike and e-scooter markets. 

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BoydWiggins 29 January 2019

All good things must come to

All good things must come to an end... And I fear this is the beginning of it for Koenigegg, which at the moment is a very pure (if not THE purest) automotive company around.

rtwingo 29 January 2019

SAAB strikes again

So nearly killing Spyker wasn't enough?

Peter Cavellini 29 January 2019

That didn’t take long, did it?

  Who you going to call to get the Job done........certainly isn’t Ghostbusters!