Shanghai (ZXZC)- NEVS Tianjin project starts production on December 5th, marking its entry into a new development period.

NEVS successfully purchased Saab Motor Co. in 2012 and then launched a new brand “NEVS” to develop NEV models. NEVS was registered and established in Tianjin Binhai High-tech Zone in June, 2015, with a registered capital of RMB 2.4 billion and a total investment of RMB 4.2 billion. The project plans to produce battery electric passenger vehicles with an annual capacity of 50,000 units in its first phrase and planned capacity of 220,000 units. NEVS obtained new battery electric passenger vehicle production certificate from NDRC in January, 2017.

NEVS will start operation in the latter half of 2018, mainly targeting at European and American markets. At that time, the group company will have an annual capacity of 500,000 units for high-end BEVs. Based on Chinese and Swedish markets, NEVS provides products and services to the globe. Besides, complementary strengths in resources and technologies between China and Sweden will lower NEVS’s product development cycle and manufacturing costs greatly, thus forming strong competitive power and market influence.

NEVS also co-establishes Global NEV Service Company with Didi and global energy Internet organizations to provide globally leading NEV services and make an environmental-friendly future with continuous developments.