Chinese property developer Evergrande has acquired 51% of shares of NEVS (National Electric Vehicle Sweden) in a bid to help the smart car firm develop green mobility solutions.
Evergrande’s business covers technology, real estate, health and cultural tourism.
The deal is expected to help NEVS develop a second car manufacturing plant in Shanghai which will be used to develop electric vehicles and transport solutions.
Currently, NEVS has a manufacturing plant in Tianjin, China, and Trollhättan, Sweden