SKF Partners with Protean Electric to Develop Advanced Drive Solutions for the Hybrid and Electric Vehicle Markets

  SKF Partners with Protean Electric to Develop Advanced Drive Solutions for
  the Hybrid and Electric Vehicle Markets

Business Wire

GÖTEBORG, Sweden -- January 15, 2013

SKF (LSE:SKFB)(STO:SKFA)(STO:SKFB) has signed a strategic partnership
agreement with US-based Protean Electric where SKF will supply its expertise
and advanced automotive solutions for Protean’s in-wheel electric drive for
the hybrid and electric vehicle markets.

The Protean-SKF strategic partnership is a five-year agreement that initially
focuses on a unique wheel bearing system with integrated sealing and sensors
developed specifically for Protean Electric. Beyond this initial project, the
companies will both look for new areas of collaboration that capitalize on
their core expertise.

“Aligned with our SKF BeyondZero strategy, SKF is committed to developing
technology to support the electric and hybrid vehicle market to further reduce
the carbon footprint. Combining our engineering knowledge with Protean’s
expertise for in-wheel motors will be an excellent way to develop this
market,” says Tryggve Sthen, President, SKF Automotive.

Protean Electric is a leading clean technology company that designs, develops
and manufactures the Protean Drive™, a fully integrated, in-wheel motor,
direct-drive solution for electric hybrid vehicles.

“We are very pleased to partner with SKF,” says Bob Purcell, chairman and CEO,
Protean Holdings Corp. “The bearing design has a significant influence on the
performance of the in-wheel motor and only SKF can supply a bearing to meet
the requirements for this unique application. In addition, they have the
competence and skills to support the entire development lifecycle and series

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication
systems, and services which include technical support, maintenance and
reliability services, engineering consulting and training. SKF is represented
in more than 130 countries and has around 15,000 distributor locations
worldwide. Annual sales in 2011 were SEK 66,216 million and the number of
employees was 46,039.

® SKF is a registered trademark of the SKF Group. ™ BeyondZero is a trademark
of the SKF Group.

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