National Electric Vehicle Sweden (NEVS) has acquired British automotive technology company and in-wheel motor technology developer Protean Electric.
NEVS plans to include Protean Electric’s in-wheel electric drive technology, ProteanDrive, in its future products.
ProteanDrive in-wheel motors offer improved powertrain efficiency and greater flexibility in vehicle design. High-torque density ProteanDrive technology combines a direct-drive electric motor and power electronics which can be used in passenger cars, light commercial vehicles, urban mobility vehicles, and autonomous pods.
Protean Electric will continue to operate as an independent business under NEVS parent company Evergrande, developing future powertrain and mobility solutions to meet market needs. Protean Holdings will merge into Virtue Surge, a subsidiary of NEVS.
“This exciting new agreement will enable Protean Electric to fulfil its global potential, and to do so more rapidly,” says Protean Electric CEO KY Chan. “This acquisition will aid Protean Electric in establishing a strategic advantage in the new energy and mobility markets and bring in new expertise.”
In combining NEVS, Protean Electric, and several other leading companies within the automotive area, Evergrande has formed a diversified new energy vehicle group. https://www.evergrande.com; https://www.proteanelectric.com; https://www.nevs.com
Hitachi Automotive to buy Chassis Brakes
Hitachi Automotive Systems will buy Chassis Brakes Group from private equity company KPS Capital Partners. The deal should close before the end of the year, following consultations with labor groups and regulatory agencies.
Formed in 2012 when KPS bought Robert Bosch’s brakes business, Chassis Brakes makes automotive safety solutions and is a global Top 3 manufacturer of automotive foundation brakes and components. It develops safer, cleaner, smarter solutions that support large trends impacting the automotive industry, such as connectivity, electrification, and autonomous driving.
Chassis Brakes developed the Smart Brake and recently revealed a demonstration car operating exclusively with these electromechanical brake actuators (versus traditional hydraulic brake actuators) on four wheels.
Hitachi Automotive Systems President and CEO Dr. Brice Koch says the transaction “is in line with our commitment to strengthen core businesses such as powertrain, chassis, and safety systems.” https://www.chassisbrakes.com; https://www.hitachi-automotive.us; https://www.kpsfund.com
Toyota, Subaru to develop electric vehicles
Toyota Motor Corp. and Subaru Corp. will partner to develop a platform dedicated to battery electric vehicles (BEVs) for midsize and large passenger vehicles and a C-segment-class (compact) BEV SUV model under each company's brand.
Combining Subaru’s all-wheel-drive technologies and Toyota’s electrification prowess, the companies hope to create unique offerings for the competitive global market.
Toyota and Subaru have shared design and manufacturing resources since 2005 and shared vehicle platforms on the jointly developed rear-wheel-drive Toyota 86 and Subaru BRZ in 2012.
Company officials say joint development is necessary to find the appropriate buying scale needed to make batteries affordable and to develop longer-range, more efficient vehicles.