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Chinese Battery Maker to Open Factory Next to Swedish EV Plant

  • New facility rivals that of Swedish battery company Northvolt
  • GSR to start manufacturing next to old Saab auto plant
2011 Consumer Electronics Show (CES) Showcases Latest Technology Innovations

Photographer: Andrew Harrer/Bloomberg

GSR Capital, the Chinese private-equity firm that bought Nissan Motor Co.’s battery-making business, plans to invest $500 million in National Electric Vehicle Sweden AB.

GSR said it will also build a battery factory next door to NEVS’s facility, which is based on the site of a former Saab auto plant in Trollhattan. Chinese investors lead by Kai Johan Jiang are turning the Saab factory into an electric vehicle producer, making cars under the NEVS brand.