Photo/Shetuwang

May 31 (NBD) -- Chinese property conglomerate Evergrande Group is getting ahold of the world's state-of-the-art in-wheel electric motor technology for passenger cars following an acquisition deal reached in London Thursday, marching one step closer to its strategic layout for the full value chain of the new energy vehicle (NEV) industry.  

In a filing to the Hong Kong stock exchange, the real estate giant's health unit Evergrande Health Industry Group Limited said its subsidiary has acquired British in-wheel electric motor pioneer Protean Holdings Corp. But financial terms wasn't disclosed. 

Founded in 2008, Protean has been granted with over 150 patents for its technologies globally and has more than 150 pending patent applications, covering areas such as electric motor, inverter design, in-wheel electric motor application. Globally, it has formed partnership with auto manufacturers including Mercedes-Benz and Ford. 

National Business Daily noticed that electric motor, electronic control and battery are three core parts of NEVs, and in-wheel electric motor that integrates drivetrain, motor-drive electronics and braking components represents the highest-level technology in the electric motor field and is considered to be the development direction of the global automobile industry. 

In March this year, Evergrande Health obtained internationally advanced in-wheel motor technologies for commercial vehicles like buses and trucks as well as numerous patent technologies through an indirect investment in Netherlands-based e-Traction. 

Plus the Protean deal, Evergrande Group has built up a large lead over others in the in-wheel motor sector. This will give a strong boost to the property behemoth's goal of becoming the world's largest and most powerful NEV company within the next three to five years.  

Email: lansuying@nbd.com.cn