According to Reuters on November 4, citing Bloomberg, China Evergrande Group's automotive business is close to selling British startup Protean Electric to electric vehicle company Bedeo, and the deal is expected to be announced soon.
Evergrande acquired Protean Electric, a manufacturer of in-wheel motors, in 2019.
Evergrande and Bedeo did not immediately respond to Reuters' request for comment.
“This acquisition ensures we are well capitalised to meet the growing demand from existing and new customers,” said Andrew Whitehead, CEO of Protean.
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