National Electric Vehicle Sweden (NEVS) has acquired British automotive technology company Protean Electric in order to speed roll-out of innovative propulsion technologies for next generation electric and autonomous vehicles.
NEVS, a subsidiary of Evergrande Health, has finalised its acquisition of Protean Electric.
The acquisition is part of Evergrande’s strategy to become a major player in the global electric vehicle industry.
Protean Electric will continue to operate as an independent business under the Evergrande umbrella, developing future powertrain and mobility solutions.
Formally, Protean Holdings will now be merged into Virtue Surge, a subsidiary of NEVS.
The acquisition will provide additional resources and business opportunities for Protean Electric, giving the company access to an even broader pool of skills, knowledge and experience, as well as a sizeable customer in NEVS.
