Koenigsegg Gets $150 Million Cash Injection; Plans to Enter Volumes Segment

Looks like Koenigsegg has decided not be a hypercar only manufacturer any more and has formed a strategic partnership with NEVS to develop cars for other segments. NEVS (National Electric Vehicle Sweden) is a Swedish automotive holding company which also owns assets of SAAB after it went bankrupt. According to the release, the two companies will develop “parallel vehicle models in the slightly higher volumes with emphasis on electrification”, which suggests that the intent is on bringing competition to Tesla and upcoming premium electric cars from Porsche, Pininfarina and such.

This does not mean that we will stop seeing hypercars from Koenigsegg. In fact, the Swedish automaker has affirmed that the new partnership will only help it strengthen its search for growth opportunities in the hypercar segment. It seems an electric Koenigsegg hypercar could soon be on its way. To that end, NEVS will be investing $150 million in Koenigsegg for a 20% stake in the company.

Additionally, the parties are forming a joint venture where NEVS will be the majority owner and Koenigsegg will contribute primarily with intellectual property, technology licenses, and product design. We believe the JV might focus on launching cars for the Chinese market as the Chinese real-estate conglomerate Evergrande has a majority stake in NEVS.

The new announcement definitely comes as a surprise and we are intrigued to learn more. We can definitely expect a few questions to be answered by Christian von Koenigsegg at the upcoming Geneva Motor Show in March.

Here’s what he had to say today: “Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products. This partnership will create the best conditions for Koenigsegg to accelerate growth in the hyper car market, as well as enabling us to break ground into an untapped market segment together with NEVS. We very much look forward to working together with NEVS to develop products that ensure a sustainable future.”

Stay tuned to the The Supercar Blog for more on this story.

Source: Koenigsegg