National Electric Vehicle Sweden (Nevs), former known as SAAB, recently announced that it has gotten two new Chinese part owners in the form of Tianjin city’s Tianjin Binhai Hi-tech industrial Development Area (THT), and the Beijing State Research Information Technology Co., Ltd. (SRIT).

Since then, the company on 28th of June, held its project launching ceremony for the production and R&D joint ventures in Tianjin Binhai Hi-tech zone, which effectively marked the beginning of a new factory will be focused on new energy vehicles with an annual capacity of 200,000 units.

Now two Chinese joint ventures are registered, for Production and R&D. Besides Nevs the parties are SRIT and the It-company Teamsun, and the investments will initially be RMB 1 billion respectively and RMB 200 million. The three parties will combine their industrial and software engineering competence to co-develop future car connectivity systems, the company said in a statement.

At the same time, Bank of China entered into an agreement with Nevs granting the company a credit of RMB 10 billion, to support the development of Nevs’ business in China.

Facts about the two Chinese parties in the two joint venture companies:

Beijing Teamsun Technology Co., Ltd. provides system integration services and software development and services in China and internationally. The company was founded in 1998 and is based in Beijing. The related company Green Investment, wholly owned by Teamsuns’ major owner, is the formal shareholder.

Beijing State Research Information Technology Co., Ltd. (SRIT) is a pioneering IT service provider owned by China’s Research Development Center of the State Council, and the telecommunications giant China Unicom. The wholly owned subsidiary BRSIC is the formal shareholder.