Dana Incorporated and Hydro-Québec Announce Strategic Joint Venture
– TM4’s motor and inverter capabilities complement Dana’s e-Drive design, engineering, and manufacturing
– Positions Dana as the only supplier with complete gearbox, motor, inverter, and thermal-management capability, creating a leader in power generation and conveyance for electrified vehicles
– Dana’s extensive market breadth enables TM4 to realize its full business potential
MAUMEE, Ohio, and BOUCHERVILLE, Québec, June 22, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) and Hydro-Québec today announced a joint-venture partnership in which TM4 Inc., a subsidiary of Hydro-Québec, will become Dana’s source for electric motors, power inverters, and control systems. As part of this agreement, Dana will become a majority shareholder of TM4 in exchange for CA$165 million (approximately US$127 million). Hydro-Québec will maintain a 45 percent interest in TM4.
TM4 designs and manufactures motors, power inverters, and control systems for electric vehicles, offering a complementary portfolio to Dana’s electric gearboxes and thermal-management technologies for batteries, motors, and inverters.
The transaction establishes Dana as the only supplier with full e-Drive design, engineering, and manufacturing capabilities – offering electro-mechanical propulsion solutions to each of its end markets.
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