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Protean Electric Announces $70 Million In New Funding To Accelerate Adoption Of Innovative In-Wheel Drive Systems For Electrified Vehicles

Lixiang Chen (left), Chairman of the board of Zhejiang VIE Science & Technology CO., Ltd., and Chairman of the board of VIE Group CO., Ltd., shaking hands with KwokYin Chan (right), CEO of Protean Electric, after signing the investment agreement and JV contract at Zhejiang VIE Science & Technology Co. Ltd.SHANGHAI, July 19, 2016 /PRNewswire/ -- Protean Electric, the global leader in the development and commercialization of in-wheel electric drive systems, today announced receiving $70 million in new funding from GO Scale Capital, Zhejiang VIE Science & Technology Co. Ltd.,...