EXEDY Acquires Protean to Scale In-Wheel Motor Technology
Protean Electric, a global leader in in-wheel motor technology, has joined EXEDY Corporation after its acquisition from vehicle electrification technology provider BEDEO Group.
Under EXEDY’s ownership, Protean will scale production of its in-wheel motor technology to meet rising market demand at industrial volume and competitive cost. The automotive industry continues to shift towards electrification and software-defined vehicle platforms. With support from an established Tier 1 supplier, Protean can accelerate product development and expand the global market for its in-wheel motors.
Protean thanks BEDEO for its stewardship during a period that delivered several industry milestones. These achievements include a production nomination from a mainstream OEM, industrialisation of the Pd18 product under IATF 16949, and homologation of the first electric passenger vehicle equipped with in-wheel motors.
Protean Electric now looks ahead to a strong future within the EXEDY Group. The company will continue to advance in-wheel motor technology so that customers can deliver distinctive, cost-competitive electric vehicles to market.
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.”
Protean Electric CEO, Andrew Whitehea,d said: “This transaction represents a major step in the adoption of ProteanDrive as a mainstream drivetrain solution for the automotive industry. Our acquisition by EXEDY enables our OEM customers to incorporate in-wheel motors into their future products confidently. 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 they begin a new chapter under EXEDY. Even before we acquired 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.”