Evergrande has invested tens of billions yuan in the new energy vehicle business in recent years, acquiring companies from battery, auto sales, to auto parts. Handout.

Evergrande Health Industry Group announced that its subsidiary has acquired British in-wheel electric motor company Protean Holdings by effecting a merger of Protean with Virtue Surge Limited, a subsidiary of NEVS.

Protean is the world leader of in-wheel electric motor technology for passenger cars, Evergrande Health said in a filing to the Hong Kong stock exchange.

By acquiring US-based Protean, the company is able to further consolidate its control over in-wheel electric motor technology, to further consummate the strategic layout for its new energy vehicle industry full value chain, it said. The transaction price was not disclosed.

The total hours placed in the research and development of Protean products are estimated at over 1 million, and Protean has been granted with more than 150 patents for its technologies globally and more than 150 pending patent application, covering areas such as electric motor, inverter design and in-wheel electric motor applications.

It is the latest move by Evergrande for its new energy vehicle business as the company has invested tens of billions of yuan in recent years, acquiring companies from battery, auto sales, to auto parts.

It reported a loss of over 1.7 billion yuan for the new energy vehicle business in 2018.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

Join the Conversation

47 Comments

  1. When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a
    comment is added I get three emails with the same comment.
    Is there any way you can remove people from that service?
    Bless you!

  2. I think this is among the most significant information for me.
    And i am glad reading your article. But wanna remark on few general things, The web
    site style is wonderful, the articles is really great :
    D. Good job, cheers

  3. Hello, i think that i saw you visited my web site so i came to “return the favor”.I am trying to find things to improve my site!I suppose its ok to use a few of your ideas!!

  4. Thank you for any other great article. Where else may just anybody get
    that type of information in such a perfect manner of writing?
    I’ve a presentation subsequent week, and I’m at the search for such information. plenty of fish natalielise

  5. Hello! I know this is kinda off topic but I’d figured I’d ask.
    Would you be interested in exchanging links or maybe guest authoring a blog article or
    vice-versa? My blog covers a lot of the same topics as yours and I feel we could greatly benefit
    from each other. If you’re interested feel free to shoot me an email.
    I look forward to hearing from you! Wonderful blog by the
    way!

  6. I think this is among the such a lot significant information for me.
    And i’m happy reading your article. However wanna commentary on some basic
    things, The web site taste is great, the articles is in reality nice : D.
    Just right activity, cheers

  7. Simply want to say your article is as astounding.
    The clarity in your post is simply cool and i could assume you’re an expert on this subject.
    Well with your permission allow me to grab your feed to keep up to date with forthcoming post.
    Thanks a million and please continue the gratifying work.

  8. Thanks for the post. My partner and i have continually seen that many people are eager to lose weight simply because wish to look slim and also attractive. Nevertheless, they do not generally realize that there are many benefits so that you can losing weight as well. Doctors say that fat people are afflicted by a variety of health conditions that can be perfectely attributed to their own excess weight. The good news is that people who sadly are overweight along with suffering from several diseases can reduce the severity of their own illnesses by simply losing weight. You’ll be able to see a slow but noticeable improvement with health whenever even a small amount of fat reduction is obtained.

  9. Greate pieces. Keep writing such kind of information on your blog.

    Im really impressed by your blog.
    Hi there, You’ve done a great job. I’ll certainly digg it and in my
    opinion suggest to my friends. I’m sure they will be benefited from this site.

  10. I seriously love your site.. Pleasant colors & theme. Did you create
    this amazing site yourself? Please reply back as
    I’m trying to create my own website and would like to find out where you got this from
    or just what the theme is named. Thanks!

  11. Wonderful goods from you, man. I have remember your stuff prior to and you’re simply extremely great.
    I really like what you’ve bought here, really like what you are stating and the way by which you assert it.

    You are making it entertaining and you continue to care for to keep it wise.

    I can not wait to read much more from you. This is
    really a terrific site.

  12. After I originally left a comment I appear to have clicked the
    -Notify me when new comments are added- checkbox and now whenever a comment
    is added I receive 4 emails with the exact same comment.
    Perhaps there is a way you are able to remove me from that service?
    Thanks a lot!

  13. I am really curious about this topic and wondering why. Thanks for sharing your thoughts and investigation about this article. It really helps a lot.  Please share us your inspiration in creating such a wonderful blogs like this one. Thanks.

  14. My spouse and I stumbled over here coming from a different website
    and thought I should check things out. I like what I see so now i’m following you.

    Look forward to looking into your web page yet again.

  15. Amazing blog! Do you have any helpful hints for aspiring writers?
    I’m planning to start my own site soon but I’m a little lost on everything.
    Would you advise starting with a free platform like WordPress or go for a paid option?
    There are so many choices out there that I’m totally confused ..
    Any ideas? Cheers!

  16. Hello there! Would you mind if I share your blog with my facebook group?
    There’s a lot of people that I think would really appreciate your content.
    Please let me know. Many thanks

  17. It is appropriate time to make a few plans for the longer term and it’s time to be happy.
    I’ve read this post and if I could I want to counsel you some interesting things or suggestions.
    Maybe you could write next articles referring to this article.
    I desire to learn even more things approximately it!

  18. Thanks a bunch for sharing this with all of us you really understand what you’re talking approximately! Bookmarked. Kindly additionally consult with my website

Leave a comment

Your email address will not be published. Required fields are marked *