$12B EV deal: NEVS to provide Panda with 150K 9-3 EVs through 2020, 100K other EV products and services
17 December 2015
National Electric Vehicle Sweden (NEVS) and the Chinese company Panda New Energy Co., Ltd. have signed a strategic collaboration agreement under which NEVS will provide Panda with 150,000 9-3 sedan electric vehicles through 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 (US$12 billion).
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.—Stefan Tilk, Vice Chairman NEVS
|NEVS presented a prototype of the 9-3 EV in 2014. (Earlier post.) Click to enlarge.|
NEVS’ vision is to shape mobility for a more sustainable future; the company 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).
In early 2015 the last Saab 9-3 of model year 2014 was sold out in Sweden. NEVS says it is now focusing on developing new cars.