Protean Electric raises $70M to accelerate adoption of in-wheel drive systems for electrified vehicles in China
Green Car Congress
JULY 19, 2016
Existing investors Oak Investment Partners and GSR Ventures co-invested in Protean’s equity financing round. The investment follows Protean’s announcement in May that it is setting up a manufacturing site in Tianjin, China to commercialize its model PD18 in-wheel motor in order to meet customer demand.
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