UK-based electric powertrain specialist Saietta has acquired e-Traction Europe from Evergrande New Energy Vehicle Group. e-Traction is a Dutch supplier of electric powertrains for trucks and buses and power electronics.
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Although Sono Motors already announced in 2019 that it would have its Sion solar electric car produced by National Electric Vehicle Sweden (NEVS) at the Swedish site in Trollhättan, there is apparently no binding production agreement to date. We asked the Munich-based company about this.
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More details have been revealed about the Chinese Evergrande Group’s ambitious electric car plans: Evergrande has now announced the first six models to be offered under the Hengchi brand.
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The Chinese Evergrande Group has invested a further 3 billion US dollars into its Swedish subsidiary NEVS as well as concluding strategic cooperation agreements with no less than 60 suppliers for its electric car plans.
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The Chinese real estate group Evergrande is underpinning its extremely ambitious electric car plans by setting up a joint venture with the German drive specialist Hofer Powertrain to develop and produce electric drives.
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The Chinese real estate group Evergrande Group is investing the equivalent of around 23 billion US dollars in the construction of three plants for electric vehicles and their components in Guangzhou.
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The Saab successor company NEVS (National Electric Vehicle Sweden) is taking over the British wheel hub motor specialist Protean Electric. NEVS intends to use the ProteanDrive electric drive technology in future electric cars.
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The Chinese real estate group Evergrande Group announced that it intends to start production of its first electric vehicles in June. The company will use production technologies from Saab and Koenigsegg.
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Evergrande Health Industry Group is to pay 1.06 billion yuan (156 million US dollars) for a majority stake in Cenat New Energy, a Chinese automobile battery company. Evergrande is rapidly piecing together a string of pearls in the electromobility production chain.
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Chinese corporation Evergrande Health Industry Group – Faraday Future’s disputed investor – has made a major investment in Chinese-owned National Electric Vehicle Sweden (NEVS) formerly Saab. Evergrande acquired a majority of NEVS shares at 51 per cent for a price of 930 million US dollars.
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The funds of Faraday Future are ultimately depleted and the EV startup “efficiently insolvent” founder Nick Sampson declared in an email to employees. Himself and senior product VP Peter Savagian have left the company and most workers have been sent on unpaid holiday.
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The crisis at Faraday Future continues after their fight with investor Evergrande Health remains unresolved. With funds running low, FF now had to lay off workers and cut the salaries of those who remain by 20 percent. This includes executives.
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Things are back to normal at Faraday Future, only their normal is chaos. In summer all seemed better, after the electric car startup secured a 2BN dollar deal with Evergrande Health. But now both sides blame the other for trying to break the deal and on top there are rumours that the first FF91 car […]
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Faraday Future has set-up its operating headquarters in China, according to Evergrande Health, which owns a 45 percent stake in the electric vehicle startup. Five more bases for research and development are to follow across the country in the next ten years.
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Faraday has found yet a new future as Hong Kong’s Evergrande Health Industry Group acquires a 45 percent share in the EV startup for $1.2BN. Evergrande will buy the stake off Season Smart, that had promised to invest 2BN dollars into FF.
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