First publishedon www.ITSInternational.com
Chinese property developer Evergrande has acquired 51% of shares of NEVS (National Electric Vehicle Sweden) in a bid to help the smart car firm develop green mobility solutions.
Evergrande’s business covers technology, real estate, health and cultural tourism.
The deal is expected to help NEVS develop a second car manufacturing plant in Shanghai which will be used to develop electric vehicles and transport solutions.
Currently, NEVS has a manufacturing plant in Tianjin, China, and Trollhättan, Sweden.
National Modern Energy Holding, a company owned by the founder of NEVS Kai Johan Jiang, will have the remaining 49% of the shares.
In September 2018, NEVS began utilising Phantom Auto’s teleoperation system to help improve safety for passengers in its electric autonomous vehicles.