Evergrande Group’s NEVS takes over UK company Protean Electric
NEVS takes over UK company Protean Electric
The Saab successor company NEVS (National Electric Vehicle Sweden) is taking over the British wheel hub motor specialist Protean Electric. NEVS intends to use the ProteanDrive electric drive technology in future electric cars.
According to NEVS, the British developer of in-wheel motor technology, Protean Electric, will add a lot of intellectual property to the NEVS pool: Despite only being founded in 2008, Protean has over 160 patents globally across electric motor and power electronics design, control and manufacturability, with another 150 patents pending. Stefan Tilk, CEO of NEVS said that he is “..sure this acquisition will lead to many benefits for both NEVS and Protean Electric.”
On Protean Electric’s side, the company aims to benefit from exposure to additional markets and market segments, which Protean CEO KY Chan underlined: “This exciting new agreement will enable Protean Electric to fulfil its global potential, and to do so more rapidly.” While Protean will remain independent enough to develop their own powertrain and mobility solutions, they will formally be merged into Virtue Surge, a NEVS subsidiary.