TIANJIN, China, May 19, 2016 /PRNewswire/ -- Protean Electric, a global leader in the development and commercialization of in-wheel electric drive systems, along with the Tianjin Binhai Hi-Tech Industrial Development Area (THT), announced today their plan to begin manufacturing Protean Drive® in-wheel motors in Tianjin during the second half of 2016, and to construct a factory on a permanent site within THT by the end of 2017.
THT, a core part of the Tianjin Binhai New Area, is a State designated indigenous innovation area, and a "Future Science and Technology City". THT is committed to promoting industries around new energy vehicles, renewable energy, advanced IT, and high-end manufacturing equipment.
"THT is determined to enable hundreds of "billion-dollar businesses" in EV, battery, battery materials, electric motor, controller, charging hardware manufacturing and operation, EV-sharing and leasing, and other EV value chain players, as core industries in THT," Vice Director Wang Wei of THT stated. "Protean Electric is the recognized leader in in-wheel motor, and its business mission aligns well with THT. We are committed to supporting Protean's expansion and development in Tianjin."
Protean Electric CEO KY Chan commented, "We've found THT an ideal location to establish our manufacturing base. Protean's in-wheel motors are set to radically change power-train configurations of electric and hybrid electric vehicles and revolutionize electric drive systems across the automotive industry. We wish sincerely to thank THT General Secretary Ni Yuxiang, Director Yin Jihui, Vice Director Wang and their team for their world-class support to Protean as we expand in Tianjin to deliver cutting-edge products to our customers."
In furtherance of the parties' cooperation, THT and Protean Electric have entered into an agreement under which THT is extending tax incentives and other supports to Protean Electric in establishing its manufacturing and China corporate and customer service headquarters base in the city of Tianjin.
"Our establishment of this manufacturing facility in partnership with THT for Protean's PD18 in-wheel motor is another important step toward commercialization of Protean's breakthrough electric drive technology, and is also our response to strong China customer demands," Mr. Chan said.
As part of its opening in Tianjin, Protean Electric intends to expand product development and customer application support teams for Chinese and international carmakers (OEMs), and power-train assembly and vehicle integrators. In connection with the start of production of its PD18 in-wheel motor, Protean will also aggressively source parts and sub-assemblies within China.
About Protean Electric
Protean Electric is a leading clean technology company that designs, develops and manufactures Protean Drive® in-wheel motors, a fully integrated in-wheel drive solution. Protean Electric's technology is strategically positioned to play a major role in the hybrid and electric vehicle market by offering a combination of packaging advantages, new vehicle design opportunities, performance benefits and cost savings.
Using a scalable and patented sub-motor architecture, the current PD18 product, designed to fit inside an 18" wheel rim, provides the power and torque required to propel hybrid and electric vehicles from C-segment all the way to light commercial categories.
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SOURCE Protean Electric