Evergrande Group has acquired 51% of the shares in NEVS AB for $930M.

Evergrande Group, a China-based holding with interests in health industry, announced that it has acquired 51% of the shares in NEVS AB in Sweden.

NEVS AB was founded in 2012 by Kai Johan Jiang when he bought the bankruptcy estate after Saab Automobile. Since then he has been major owner of the company.  During the six years, NEVS has built a new car manufacturing plant in Tianjin, China, and now has started to build another one, in Shanghai, China, in addition to the one the company has in Trollhättan, Sweden.

After the transaction, Kai Johan Jiang, with his company, NE Holding, will have 49 % of the shares.

Evergrande Group is a well-known company included in the Fortune Global 500 list, with its businesses covering the cultural tourism, real estate, health and hi-tech industries.