Financial withdraws Nevs – loses hundreds of millions

Beijing Zhigan Shenghuo Technology signed an agreement with Nevs in August 2017, to make three capital injections of a total of 720 million Chinese yuan (the equivalent of 974 million), against the property of 30 percent of Nevsky's Chinese joint venture, DI writes.

It is clear from the annual report that the commitments made by the investment company have not been respected. Therefore, the case must be settled in court.

In March of this year, Nevs signed an agreement with the Chinese investment company GSR Capital. The company has invested in battery technology and will take over Nissan's battery division with plants in Japan, the United States and the United Kingdom. Now, however, Nissan is stopping the deal, according to a statement due to the fact that GSR Capital does not have enough money. The deal is worth $ 1 billion (just over 9 billion Swedish kroner).

According to the agreement with GSR Capital, Nevs will receive a convertible loan of about 4.5 billion SEK and GSR Capital will build a battery assembly plant in Trollhättan. This plant would be part of Nissan's battery operations, which means that it is now difficult to know whether or not there will be a factory.