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© Nevs Electronics Production | June 15, 2018

Swedish electric car maker to build second plant in China

Electric car manufacturer Nevs is currently constructing its first Chinese manufacturing facility in Tianjin, and now the company announces that it already have plans for another facility – this time in Shanghai.
In an interview with Ekot (part of Swedish state owned radio), Nevs main owner, Kai Johan Jiang, said that this is a very important step for the company as Shanghai is the most important electric car market, and it is easier to recruit international talented engineers there.

The new – to be built – manufacturing facility will have a price tag of SEK 5 billion (about EUR 494.5 million) and will have the capacity of manufacturing some 200’000 cars per year. The majority of the funds to cover this new venture comes from Nevs’ new Chinese investor, GSR Capital, the report continues.

Construction of the new plant is scheduled to begin in June this year with completion and production start ready by the end of next year.

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July 18 2018 5:55 pm V10.0.0-1