Protean Electric acquired by Exedy Corporation

In-wheel motor manufacturer Protean Electric has been acquired by Exedy Corporation from vehicle electrification technology provider Bedeo Group.

Under the ownership of drivetrain components manufacturer Exedy, Protean said it will be able to meet the market demand for its in-wheel motors at industrial scale and competitive cost.

Protean added that as the automotive industry evolves and shifts towards electrification and software-defined platforms, the backing of an established Tier 1 supplier enables the further development and market expansion of its products.

Protean Electric CEO Andrew Whitehead, said the transaction represents “a major step in the adoption of ProteanDrive as a mainstream drivetrain solution for the automotive industry”.

“Our acquisition by Exedy allows our OEM customers to confidently enable their future products with in-wheel motors. The potential for ProteanDrive to allow OEMs to deliver better electric vehicles has been clear to many for years – this transaction provides us with the industrial scale to offer a sustainable, cost-competitive product that turns the potential into reality,” he added.