National Electric Vehicle Sweden has acquired the in-wheel electric motor producer, enabling Zhejiang VIE Science & Technology and Tianjin THSG Corporation to exit.
Electric vehicle (EV) maker National Electric Vehicle Sweden (NEVS) has acquired Protean Electric, a UK-based electric motor manufacturer backed by corporates Zhejiang VIE Science & Technology and Tianjin THSG Corporation, for an undisclosed amount.
Founded in 2008, Protean develops electric drive systems for use in hybrid and plug-in electric vehicles, converting electricity into power and reducing energy waste. The in-wheel electric motors are designed for passenger cars, light commercial vehicles and self-driving cars.
Protean Electric will continue to operate as…
