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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.

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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. million electric-drive motors will ship in 2014: HEVs, PHEVs, and BEVs.

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