Koenigsegg move into the larger market and EVs

Koenigsegg AB have announced forming a strategic partnership with NEVs (National Electric Vehicles Sweden). NEVS will take a 20% stake in Koenigsegg with an investment of EUR 150 million.
This will allow increased growth in their hyper car market with an emphasis on electrification.
The two companies are also starting a new joint venture with a 65/35% stake. Koenigsegg providing intellectual property, technology licenses and product design worth $80 million.
The partnership will access extensive automotive skills from the area around Trollhattan and the home of SAAB. NEVS capacity for production in Trollhattan and China and through their majority owner Evergrande’s wide distribution and ownership in one of China’s largest car retailers.