Protean Electric selected for Intelligent Mobility Accelerator programme
- Intelligent Mobility (IM) Accelerator programme aims to develop and support innovative businesses within the UK transport supply chain
- Programme is run by Wayra, a global accelerator for digital business and part of the Telefónica Group
- Initiative will give Protean access to insight and networking across the intelligent mobility ecosystem
Protean Electric has been selected to join the Wayra Intelligent Mobility (IM) Accelerator programme, which will give the business six months of development opportunties, including access to networks of like-minded partners, government agencies, customers and corporations.
Protean Electric is an automotive technology innovator, and a world-leading developer of ProteanDrive in-wheel motors, ready for volume application in passenger cars, light commercial vehicles, modern last-mile transportation solutions and autonomous mobility pods. Following a number of successful pitches to experts in the transport sector, Protean will join a cohort of technology companies on the programme, which launched on 3 July 2019.
The IM Accelerator programme is operated by Wayra UK – a Telefónica business in partnership with the Connected Places Catapult.It supports selected disruptive companies with high-growth potential within the transport supply chain to scale up and tackle challenges such as congestion, overcrowding, emissions and road safety within the industry.
Protean will gain access to Wayra UK’s network of corporates, governments and other partners in the 17 countries in which Telefónica operates as well as opportunities to work with the Connected Places Catapult’s world leading data, visualisation, customer experience and connected and autonomous vehicle capability teams. In addition, Protean will benefit from the support of the programme’s industry partners: Ferrovial, Stagecoach Group and Hyundai.
Ben Boycott, Chief Commercial Officer at Protean Electric, says: “As a world-leading developer of electric automotive technology, we are already experiencing great customer engagement with the benefits of in-wheel motors. The support from Wayra UK’s programme will help us to accelerate this success as we roll-out our innovative technologies. We look forward to working with the programme to extend our reach into wider networks and gain valuable insights and expertise.”
The programme accepts two cohorts of six companies a year and is the first in the UK to cover the full intelligent mobility market. Wayra UK aims to develop new UK-based industry leaders in the £1.4bn global transport systems market through data-driven solutions for the most crucial transport problems.
Saffron Johnson, PFPR Communications
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About Protean Electric
Protean Electric is an automotive technology innovator, and a world-leading developer of in-wheel motors including ProteanDrive, a fully integrated in-wheel drive solution. Protean Electric’s technology is strategically positioned to play a major role in the hybrid, electric vehicle and future mobility market by offering a combination of packaging advantages, new vehicle design opportunities, performance benefits and earnings improvements. Globally Protean Electric has 160 patents across 75 patent families with operations in the United Kingdom, China and the USA. It is a subsidiary of National Electric Vehicle Sweden (NEVS) and part of Evergrande Health’s ‘New Energy Vehicle’ Group.
Wayra UK’s ‘best in class’ accelerator programme currently supports around 70 companies a year in locations across the United Kingdom, providing advice and mentorship to take ideas through to investment. Over the last seven years Wayra UK has invested and supported 180 companies and has helped to raise over $237 million in third party funding for companies currently valued at $835 million. wayra.co.uk