Bedeo, an electric vehicle manufacturer, has acquired Protean from Evergrande’s auto division

Bedeo, a UK-based e-mobility company, announced on Thursday that it has purchased Protean Electric from China’s Evergrande Group’s automotive division.

National Electric Vehicle Sweden, a subsidiary of Evergrande New Energy Vehicle Group, is selling Protean to Bedeo.

In 2019, Evergrande purchased Protean, a company that makes in-wheel motors.

The financial parameters of the deal, which was first reported by Bloomberg News, were not disclosed by Bedeo.

Protean Chief Executive Officer Andrew Whitehead remarked, “This acquisition assures we will be adequately capitalised to handle the rising demand from existing and new customers.”