Nevs has signed a Strategic Collaboration Agreement with Panda New Energy Ltd., about 150,000 9-3 Sedan EV

National Electric Vehicle Sweden (Nevs) and the Chinese company Panda New Energy Co., Ltd. have signed a strategic collaboration agreement. According to the agreement, Nevs will provide Panda with 150,000 9-3 sedan electric vehicles until the end of 2020. In addition, the agreement also includes 100 000 other EV products and services from companies associated to Nevs and its owners. The total value of the agreement is 78 billion RMB.

Panda New Energy is a new energy vehicle leasing company with focus on low emission mobility solutions. Cooperating with many chauffeured car service platforms in China, Panda aims to become one of the biggest EV leasing companies in the world.

“This is a strategic collaboration for Nevs not only in terms of the numbers of vehicles, but it is also an important step to implement our vision and new business plan. In the long term, we want to provide our customers with both sustainable products and mobility services,” said Stefan Tilk, Vice Chairman Nevs.

”We are very pleased to form a cooperation with Nevs, a company with a rich innovation heritage and the right ability to fulfil our demands. Being in an emerging market for new energy vehicles, we are happy to find a partner who shares our commitment to the environment,” said Ma Chao, Chairman Panda New Energy.

National Electric Vehicle Sweden AB’s (Nevs) vision is to shape mobility for a more sustainable future, and focuses on the development of electric vehicles and sustainable mobility services. Nevs acquired the main assets of the former Saab Automobile in 2012. Nevs is Co-owned by National Modern Energy Holdings, Tianjin Binhai Hi-tech industrial Development Area (THT), and the Beijing State Research Information Technology Co., Ltd. (SRIT).

78 billion RMB is about 11 billion Euros or 12 billion Dollar, or a bit more than 2 billion per Year for the next 5 years, which really is a big amount of money.

According to an interview from the local Newspaper ttela.se to Matthias Bergman, those 150k cars are meant to be all “corporate Sedans”, the one based on the last 9-3. The bodies will be build and painted in Sweden, and then sent to China for final assembly.

It makes sense as nobody would expect this car to have a huge public acceptance. And with this contract, they can build cars, which means revenue, and trained workers while developing the other four cars on their list.