EV maker Bedeo acquires Protean from Evergrande’s auto unit By Reuters

© Reuters. FILE PHOTO: A crane stands at a development website close to the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China, Sept. 26, 2021. REUTERS/Aly Track

(Reuters) -UK-based e-mobility agency Bedeo stated on Thursday it has acquired Protean Electrical from China Evergrande Group’s automotive unit.

Bedeo is shopping for Protean from Nationwide Electrical Automobile Sweden, a unit of Evergrande New Power Automobile Group.

Evergrande purchased Protean, that produces in-wheel motors, in 2019.

Bedeo didn’t disclose the monetary phrases of the deal, which was first reported by Bloomberg Information.

“This acquisition ensures we can be effectively capitalised to satisfy the burgeoning demand from current and new clients,” Protean Chief Government Officer Andrew Whitehead stated.

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