[ET Net News Agency, 31 May 2019] Evergrande Health Industry Group Limited (00708) said
National Electric Vehicle Sweden AB (NEVS), a subsidiary of the company, has acquired
Protean Holdings Corp. (Protean) by effecting a merger of Protean with and into Virtue
Surge Limited (Virtue Surge), a subsidiary of NEVS.
Protean is a world leader of in-wheel electric motor technology for passenger cars. The
proprietary software of Protean products cover the areas of advanced motor control,
diagnostics, automotive-standard communications and advanced vehicle dynamics functions.
Through the acquisition, the group is able to further consolidate its control over
in-wheel electric motor technology, thus to further consummate the strategic layout for
its new energy vehicle industry full value chain. (RC)
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00708 EVERG VEHICLE
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0.204 -0.003 (-1.449%) Disclosure of Interest
31/05/2019 10:04
Evergrande Health (00708) acquires Protean by merger
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