Koenigsegg And NEVS Join Forces To Take On The World

National Electric Vehicle Sweden (NEVS) has invested 150 million euros (171,584,250 at current exchange rates) to acquire a 20-percent stake in the parent company of Swedish hypercar builder Koenigsegg. The companies say that they intend to develop vehicles together and put an emphasis on electric models.

As part of the deal, NEVS and Koenigsegg are also forming a new joint venture company to focus on intellectual property, technology licenses, and product design. NEVS has 65-percent ownership of this business, while Koenigsegg controls the remaining 35 percent.