Protean Electric, a world leader in in-wheel motor technology, has been acquired by
EXEDY Corporation, a leading developer and manufacturer of drivetrain components globally, from vehicle electrification technology provider BEDEO Group.
Under the ownership of EXEDY, Protean will be able to meet the market demand for its in-wheel motors at industrial scale and competitive cost. As the automotive industry evolves and shifts towards electrification and software-defined platforms, the backing of an established Tier One supplier enables the further development and market expansion of Protean’s products.
During its time under the stewarship of BEDEO Group, Protean has delivered many industry firsts, including a production nomination from a mainstream OEM, industrialisation under IATF 16949 of its Pd18 product, and the homologation of the first electric passenger vehicle with in-wheel motors.
Protean Electric is looking forward to a bright future as part of the EXEDY Group as it continues to advance the ‘state of the art’ in-wheel motors to enable its customers to offer differentiated and cost-competitive vehicles to market.
Technological strengthsEXEDY 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.”
Protean Electric CEO Andrew Whitehead: “This 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.”
BEDEO CEO and founder, Osman Boyner said: “I wish Protean all the best as it begins 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 Protean and EXEDY.”