China's GSR Capital to invest $500 mln in Sweden EV maker NEVS

Shutterstock photo

March 14 (Reuters) - Chinese investment firm GSR Capital said on Wednesday it had signed an agreement to invest $500 million in Swedish electric car maker National Electric Vehicle Sweden (NEVS).

GSR also said it plans to start production of electric vehicle batteries on NEVS premises in city of Trollh├Ąttan in Sweden(graphic).

The company said the investments would be made as a convertible loan that might be converted to NEVS shares.

Although the batteries produced at the plant will be aimed at NEVS vehicles, other Swedish electric vehicle makers would also be able to procure them, GSR said.

This article appears in: Stocks , Politics

More from Reuters


See Reuters News

Research Brokers before you trade

Want to trade FX?