Swedish carmakers NEVS AB and Koenigsegg AB are forming a strategic partnership to enable the development of parallel vehicle models in slightly higher volumes with an emphasis on electrification as well as strengthening growth opportunities in the hypercar segment.

NEVS is making a capital injection of €150 million, taking a 20% minority stake in Koenigsegg’s parent company. Additionally, the parties are forming a joint venture to expand into new market segments where NEVS AB is contributing $150 million in starting capital for a 65% stake, and Koenigsegg obtains 35% by contributing primarily with intellectual property, technology licenses, and product design. Through the additional joint venture, NEVS and Koenigsegg are partnering to develop a product for new and untapped segments.

Through NEVS production facilities in Trollhättan, Koenigsegg will access additional capabilities as well as the automotive knowledge in the region while maintaining its center in Ängelholm.

“Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. To be able to expand our investment in the Swedish automotive industry through a company that we know and have an established relationship with is an important step for us. We have both competencies and facilities to support Koenigsegg on their journey forward, something we look very much forward to,” said Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB.

“Koenigsegg is breaking new ground, capitalizing 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,” said Christian von Koenigsegg, Founder and CEO of Koenigsegg.