NEVS Cars

NEVS Continues With the Sale: “Protean Electric” Acquisition Sold

Protean NEVS 93 Winter TestingProtean NEVS 93 Winter Testing

Unfortunately, only bad news comes from Trollhattan. The latest news indicates that NEVS continues to sell its assets, and that there is no talk of their announced “partner search”.  Although the company’s spokesmen, due to the financial collapse of the parent company Evegrande Group, announced in several interviews that NEVS is persistently looking for partners – the situation on the ground indicates that the chances for any survival of the car industry as a successor to Saab in Trollhattan are decreasing.

Of course, that was already clear when NEVS announced the sale of industrial machines and equipment, then everyone concluded that there would be no car production in the near future. About 300 more employees were laid off, and now that the sale of one of the acquired companies has been announced, things are even clearer.

Protean Electric In-wheel motor technology
Protean Electric In-wheel motor technology

NEVS has sold the acquired company Protean Electric

According to the latest media reports, NEVS has sold the acquired company Protean Electric to the British company Bedeo. To remind you, in June 2019, NEVS bought the company Protean Electric, which deals with the development of in-wheel electric motors.

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At the time, NEVS was on an upward trajectory and even integrated this in-wheel engine technology into several development NEVS 9-3 models that are partially based on the Saab 9-3 platform. Last year, we received a report that one NEVS 9-3 with in-wheel engine technology is being tested in operation in winter, snowy conditions.

Protean Electric employs around 150 people in the US, the UK and China, and will certainly be of great help to the current owner of the more expensive Bedeo, which specializes in solutions for e-vehicles. On this occasion, the founder and CEO stated the following: “We have known and partnered with Protean Electric for many years, and the opportunity to acquire this business represents a material but natural shift and acceleration in our electrification strategy,” said Bedeo’s Founder and CEO, Osman Boyner. “Protean Electric’s highly differentiated proprietary technology and strong customer relationships have fuelled its well-documented success to date, and we are confident that combining the skills and products of our two operations is going to propel Bedeo further into the EV ecosystem.

In the case of NEVS, this sale of this valuable acquisition means only one thing – it reduces the chances of any survival of NEVS in Trollhattan, and unfortunately indicates the possibility of a complete closure of activities in Sweden soon.

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Goran Aničić
the authorGoran Aničić
For over 10 years, Goran Aničić has been passionately focused on Saab automobiles and everything related to them. His initial encounter with Saab cars took place back in 2003 when the first Saab 9-3 and sedan version were introduced. At that moment, he was captivated by the car's Scandinavian design logic and top-notch engineering, and everything that followed stemmed from that first encounter. Later on, through his work at the editorial team of the Serbian automotive magazines "Autostart" and later "AutoBild," he had the opportunity to engage more closely with Saab vehicles. In 2008, he tested the latest Saab cars of that time, such as the Saab 9-3 TTiD Aero and Saab 9-3 Turbo X. In 2010, as the sole blogger from the region, he participated in the Saab 9-5ng presentation in Trollhättan, Sweden. Alongside journalists from around the world, he got a firsthand experience of the pinnacle of technological offerings from Saab at that time. Currently, Goran owns two Saabs: a 2008 Saab 9-3 Vector Sportcombi with a manual transmission, and a Saab 9-3 Aero Griffin Sport Sedan from the last generation, which rolled off the production line in Trollhättan in December 2011.

4 Comments

  • This could be the second window of opportunity for Koenigsegg to revive the SAAB! Developping a more affordable version of a sports car (derived from the Aero X) manufactured by Koenigsegg. Saab fans all over the world would line up….

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