National Electric Vehicle Sweden (Nevs) and the Chinese company Panda New Energy Co., Ltd. have signed a strategic collaboration agreement.

According to the agreement, Nevs will provide Panda with 150,000 9-3 sedan electric vehicles until the end of 2020. In addition, the agreement also includes 100 000 other EV products and services from companies associated to Nevs and its owners. The total value of the agreement is US$12 bullion (78 billion RMB).

Panda New Energy is a new energy vehicle leasing company with focus on low emission mobility solutions. Cooperating with many chauffeured car service platforms in China, Panda aims to become one of the biggest EV leasing companies in the world.

“This is a strategic collaboration for Nevs not only in terms of the numbers of vehicles, but it is also an important step to implement our vision and new business plan. In the long term, we want to provide our customers with both sustainable products and mobility services,” said Stefan Tilk, Vice Chairman Nevs.

”We are very pleased to form a cooperation with Nevs, a company with a rich innovation heritage and the right ability to fulfil our demands. Being in an emerging market for new energy vehicles, we are happy to find a partner who shares our commitment to the environment,” said Ma Chao, Chairman Panda New Energy.

Nevs’ vision is to shape mobility for a more sustainable future, and focuses on the development of electric vehicles and sustainable mobility services. Nevs acquired the main assets of the former Saab Automobile in 2012. Nevs is Co-owned by National Modern Energy Holdings, Tianjin Binhai Hi-tech industrial Development Area (THT), and the Beijing State Research Information Technology Co., Ltd. (SRIT).