Posts tagged ‘Sweden’

21/12/2015

Successor to Saab announces $12 billion China electric car deal | Reuters

If this initiative gathers momentum, China will do more for electric cars (and for climate change) than the rest of the world put together!

“The China-focussed consortium that bought bankrupt Swedish automaker Saab – and bet on going all electric – unveiled its first major deal on Thursday, a mammoth $12 billion (8 billion pounds) order for electric cars for a Chinese leasing company.

NEVS electric car

The single order for 250,000 electric vehicles, including 150,000 cars based on the Saab 9-3 sedan, appeared to be all but unprecedented. There were just 665,000 electric cars in the world and 83,000 in China as of the end of 2014, according to the International Energy Agency.

National Electric Vehicle Sweden (Nevs) said it would swiftly hire hundreds of workers in Sweden to start building cars for Panda New Energy, a Chinese firm it said leases zero-emission vehicles to chauffeur-driven fleets.

Those based on the Saab 9-3 compact sedan will have a new chassis for electric drive, with bodies built and painted in Sweden and sent to China for final assembly. No details were given about the other 100,000 but a company spokesman said they would primarily be built in China.

Nevs bought the assets of the bankrupt 70-year-old Swedish automaker in 2012 with the aim of transforming it into a leading global producer of electric cars. It exited corporate reorganisation procedures in April.

“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,” Nevs Vice Chairman Stefan Tilk said in a statement.

“Cooperating with many chauffeured car service platforms in China, Panda aims to become one of the biggest electric vehicle leasing companies in the world,” Nevs said of its customer.

Nevs, which was created in 2012, has so far sold only a limited number of gasoline-powered cars based on Saab’s latest model. The deal is the first it has signed in line with its plans to go electric.

“It will be a huge challenge to produce that many cars. Their around 800 suppliers will make up a substantial part of that challenge,” said Skovde University business administration professor Mikael Wickelgren.

Nevs is co-owned by a holding company called National Modern Energy Holdings, as well as the Beijing State Research Information Technology Co. (SRIT) and Chinese industrial park Tianjin Binhai Hi-tech industrial Development Area (THT).

Nevs said at the time of the purchase of Saab’s assets that it would convert the Saab 9-3 to electric power, while simultaneously developing an all-new model to produce in Sweden for the European market and in China for the Chinese market.

($1 = 6.4822 Chinese yuan renminbi)”

Source: Successor to Saab announces $12 billion China electric car deal | Reuters

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01/06/2015

Pranab in Sweden, key pacts to be signed – The Hindu

President Pranab Mukherjee on Sunday arrived here on the first leg of his five-day state visit to Sweden and Belarus, the first ever by any Indian head of State, during which a number of key agreements on sustainable development, scientific research are likely to be signed.

Sweden's Crown Princess Victoria and Prince Daniel receive President Pranab Mukherjee at Arlanda airport, north of Stockholm.

On his arrival, Mr. Mukherjee was received by Crown Princess Victoria at the Arland airport. Later, he was received at the Royal Mews by the King Carl XVI Gustaf and Queen Silvia from where he was taken on a horse-drawn cortege to the Royal Palace, where the traditional welcoming ceremony took place.

Earlier in New Delhi, he was given a ceremonial send-off at Rashtrapati Bhavan by Prime Minister Narendra Modi, Vice President Hamid Ansari, Delhi Lieutenant Governor Najeeb Jung, External Affairs Minister Sushma Swaraj, Finance Minister Arun Jaitley and the three Service Chiefs.

During his three-day State visit in Sweden, the President will meet Prime Minister Stefan Lofven, the Speaker of the Swedish Parliament, and the Leader of Opposition, Anna Kinberg Batra besides number of meetings with the King and the Queen. The visit will focus on innovation, sustainable development, urban development and scientific research with both countries exploring ways to enhance mutual exchange in the areas of trade and science.

via Pranab in Sweden, key pacts to be signed – The Hindu.

15/05/2013

* Arctic Council to rule on observer status for China

FT: “The Arctic is at the centre of a global geopolitical battle as China, India and Japan attempt to join the main body involved in setting the rules for future development of the polar region.

Oil drilling in the Arctic seas has become a highly contentious issue.

At a meeting in Kiruna in northern Sweden on Wednesday and Thursday, ministers from the five Nordic countries, the US, Canada and Russia will decide whether to let 14 countries and organisations gain the status of “observer” to the Arctic Council.

China is the most controversial name on the list, but its candidacy has the support of all the Nordic countries.

Canada and Russia have expressed concerns about further opening up the council, which already has six European countries as observers as well as various intergovernmental and non-government organisations. The US has said it is undecided over the decision, which needs unanimity.

The Arctic is viewed as an increasingly strategic area due to the presence of many resources such as oil, as well as the possibility of quicker shipping routes between Europe and Asia as the ice in the polar region continues to melt.

China, Japan, South Korea, Singapore, India, the EU, Italy and Greenpeace are among the bodies applying at the twice yearly summit for observer status, which would allow them to attend all meetings but not participate in the ministerial conferences.

The council, which was launched in 1996 and serves as a body for international rulemaking on the Arctic.

In a sign of the importance the US is now according the Arctic, secretary of state John Kerry arrived on Tuesday in Sweden for talks first in Stockholm with the government and then in Kiruna.

China has heavily wooed Nordic countries such as Iceland, with which it signed the first free-trade agreement with a European country last month.

Oil exploration in the Arctic has proved to be incredibly difficult, but more than a fifth of the world’s undiscovered oil and gas reserves is thought to be in the region, and there is also great scope for mining of various minerals in places such as Greenland, northern Sweden and Finland.

A northern sea route through the Arctic to the north of Russia could cut several weeks off shipping times and thousands of kilometres off distances between Europe and Asia, especially in the summer, which experts think could soon be ice-free in parts of the region.”

via Arctic Council to rule on observer status for China – FT.com.

27/02/2013

* IKEA Meatball Scandal in China: It’s Not What You Think

WSJ: “At the risk of beating a dead horse, China Real Time feels compelled to update readers on the latest flare-up in the global meat contamination scandal from the Chinese point of view.

According to a report in the state-run China Daily on Wednesday, the Swedish meatballs that furniture retailer IKEA sells in China have stirred controversy– not because they were found to contain equine DNA like some of the company’s meatballs in Europe, but because it turns out they’re made in China.

Agence France-Presse/Getty Images

This picture taken on Feb. 25, 2013 shows meatballs at IKEA department store in Brno, the Czech Republic.

“I thought the meatballs were imported from Sweden,” the China Daily quoted Jiang Tong, an IT worker in Beijing, as saying. “I don’t think I will order such meatballs in the future.”

IKEA’s spokeswoman did not respond to requests for comment. China Daily said the meatballs at IKEA’s China outlets do not contain horsemeat, as the company gets its meatballs, made with beef and pork, from a manufacturer based in China’s coastal Fujian province.

News of horsemeat turning up in beef products sourced in Europe has spread across the globe in recent weeks, hurting the reputations of some of Europe’s biggest food producers. The Wall Street Journal reported on Monday that IKEA has removed meatballs from many of its cafeterias after traces of horsemeat were found in a batch in the Czech Republic.”

via IKEA Meatball Scandal in China: It’s Not What You Think – China Real Time Report – WSJ.

13/06/2012

* Saab sold to Chinese-Swedish investment group

BBC News: “Bankrupt carmaker Saab has been sold to a Chinese-Swedish investment group which aims to turn the company into a maker of electric vehicles. Saab’s administrator said the buyer was National Electric Vehicle Sweden (Nevs). No sale price was given. Saab went bankrupt in December, two years after former owner General Motors sold it to Dutch group Spyker.

Saab “will start a new operation” to develop and produce electric cars, the administrator said in a statement.

The administrator said in April that Saab had assets to cover about a third of its debts of 13bn kronor (£1.2bn).

The chief executive and main owner of Nevs is a Chinese businessman with Swedish citizenship, Kai Johan Jiang. The chairman of Nevs is Karl-Erling Trogen, a former head of the truck division of truck and construction equipment maker Volvo.

“Nevs and the receivers of the Saab Automobile bankruptcy estate today signed a purchase agreement which covers the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB,” Nevs and the administrators said in a joint statement.

Saab employs about 3,000 people, with its main base at Trollhattan, west Sweden, where investment in new electric car manufacturing will be made.”

via BBC News – Saab sold to Chinese-Swedish investment group.

27/04/2012

* Wen paints Europe green in 4-nation trip

China Daily: “Trade and investment deals and business cooperation have been the focus of Premier Wen Jiabao’s tour to four European nations this week. Such fare is common for such visits, but

Wen Jiabao (温家宝), Chinese Premier

Wen Jiabao (温家宝), Chinese Premier (Photo credit: Wikipedia)

there was a new ingredient in the latest trip: Wen and his delegation have been paying particular attention to green and innovative industries in almost every destination of the seven-day visit, which ends on April 29.

As China switches from high growth to sustainability in the current five-year plan and as the country’s foreign trade growth slows, politicians, businesses and industrial leaders from China and Europe are seeing more opportunities in each others markets. Before his scheduled arrival in Warsaw on April 27, Wen pressed for global action on sustainable development that strikes a balance between economic growth, social progress and environmental protection, instead of focusing exclusively on the environment, at the Stockholm+40 conference in Sweden.”

via Wen paints Europe green in 4-nation trip|News|chinadaily.com.cn.

This relatively new theme of ‘sustainability’ goes along with strenuous efforts to reduce carbon and increase renewable energy sources. Good for China and good for the world.

Related pagehttps://chindia-alert.org/economic-factors/greening-of-china/

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