Protean Electric has been acquired by EXEDY from vehicle electrification technology provider BEDEO Group.
EXEDY CEO Tetsuya Yoshinaga, said, “Our acquisition of Protean allows EXEDY to address the ongoing shift toward electrification in the automotive industry, a key pillar of our business. Protean is a market leader that develops, manufactures and sells in-wheel motors – drive motors integrated into the wheels – which already has a track record of commercial deployment. Through the acquisition, EXEDY intends to combine the technological strengths of both companies to continue providing competitive products and services.”
With the support of EXEDY, Protean aims to scale production of its in-wheel motor technology to meet growing market demand while achieving industrial volumes and competitive costs. As the automotive sector accelerates its transition toward electrification and software-defined vehicle platforms, the backing of an established Tier 1 supplier provides a strong foundation for the continued development and broader commercialization of Protean’s products.
“This transaction represents a major step in the adoption of ProteanDrive as a mainstream drivetrain solution for the automotive industry,” said Protean Electric CEO Andrew Whitehead. “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.”
Protean thanked BEDEO for its stewardship, during which the company achieved several industry milestones, including securing a production nomination from a mainstream OEM, industrializing its Pd18 product under IATF 16949 standards and homologating the first electric passenger vehicle equipped with in-wheel motors.
Osman Boyner, BEDEO CEO and founder, commented, “I wish Protean all the best as they begin a new chapter under EXEDY. Even before our acquisition of Protean in 2021, BEDEO was a great supporter of the technology and we will continue to be a customer and partner in the retrofit market with Protean in the future. I look forward to continuing the journey with them and EXEDY.”
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