Evergrande New Energy Automobile issued a statement confirming the news, but did not disclose the terms of the transaction. Bedeo mainly provides light commercial vehicles and zero-emission transportation technology, and this acquisition will help Bedeo, which focuses on the European market, expand to Asia and the United States.
Protean is a subsidiary of National Electric Vehicle Sweden Company (NEVS), and NEVS is a Swedish subsidiary of Evergrande New Energy Vehicle. It is reported that Guoneng Company is also negotiating with European and American companies for sale or other financing matters, and looking for a new owner.
Protean mainly produces hub motors for electric vehicles, self-driving cars and commercial vans. The company has more than 65,438+050 employees in Britain, China and the United States, and has obtained more than 200 patents. Protean's website shows that Protean CEO Andrew Whitehead Whitehead was the designer of Honda's Formula One racing engine.
According to the annual report of Evergrande on 20 19, the company acquired Protean for $58 million on 20 19, which is one of a series of transactions reached by Evergrande in the field of electric vehicles.
Boyner said in a statement: "Protean is the first acquisition under Bedeo's expansion and growth strategy. Bedeo has a strong balance sheet and will continue to explore attractive strategic and cooperative acquisition opportunities in the field of electrification. "