# Evergrande Health acquires 70% stake in Tate Technology for $74M

Evergrande Health acquired 70% of Tate Technology for 500 million yuan. Tate Technology fully owns Dutch e-Traction, a wheel hub motor technology company.

- Type: Acquisition
- Announced: 2019-03-15
- Where: China
- Value: $74.4M (500.0M CNY)
- Status: completed
- Products: wheel hub motors for electric vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Evergrande Health](https://endata.com/companies/38027.md) (acquirer)
- [Tate Technology](https://endata.com/companies/38028.md) (target)
- [e-Traction](https://endata.com/companies/38029.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/188334.html), 2019-03-15: "此次收购泰特机电，是恒大在新能源汽车领域又一关键落子。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.