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In-wheel electric drive company Protean Electric raises $40M; JV with Weifu

Green Car Congress

The Series E financing proceeds will support Protean’s on-going business activities and help to establish a global licensing model covering all key markets. Under the leadership of Protean’s technology center in England, the joint venture will support product development and continuous engineering of in-wheel motor products.

Companies 170
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Protean Electric raises $70M to accelerate adoption of in-wheel drive systems for electrified vehicles in China

Green Car Congress

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.

China 150
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Navigant Research forecasts new EV global sales of > 346,000 units in 2014; 10 predictions for the year

Green Car Congress

Broadly, Navigant expects expansion in both the higher end of the market (thereby putting competitive pressure on Tesla Motors), as Audi, BMW, Cadillac, Mercedes, Saab, and Volvo introduce their first plug-in cars. Tesla Motors will have a bumpy year. More mainstream models will come from Kia, Mahindra, Škoda, and Volkswagen.

2014 346
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Drive Electric Submission on the Emissions Reduction Plan Discussion Document

Drive Electric

Many leading markets and car manufacturers have committed to effectively phasing out fossil fuel powered light vehicles. One of the largest RHD markets, the United Kingdom, has been transitioning towards this outcome for many years creating an “Office of Low Emission Vehicles” in 2014. This will happen from 2030. Transport .