Mexican Media Brands
Dana Buys 55% of Canadian EV Systems Supplier
Dana Inc. is investing C$165 million ($127 million) to acquire a 55% stake in TM4 Inc.—a Canadian maker of electric motors and other powertrain components for electric vehicles—and form a joint venture with the company.
#hybrid
Share
Dana Inc. is investing C$165 million ($127 million) to acquire a 55% stake in TM4 Inc—a Canadian maker of electric motors and other powertrain components for electric vehicles—and form a joint venture with the company.
TM4 is a unit of Canadian energy giant Hydro-Quebec. Dana says TM4’s components will complement its own e-Drive line of electric gearboxes and thermal systems for EV powertrains. TM4’s technical center in Boucherville, Quebec, will continue in the same role for the new venture.
The arrangement will give TM4 stronger access to global markets and broaden Dana’s ability to supply EV makers in China’s with complete electrified powertrains.
RELATED CONTENT
-
Electrically Improving Powertrains
The good news about downsized powertrains is that they can provide greatly improved fuel efficiency compared to larger engines. The not-so-good news for many drivers of cars with these smaller engines under the hood is that they can lack performance.
-
Engineering the 2019 Jeep Cherokee
The Jeep Cherokee, which was launched in its current manifestation as a model year 2014 vehicle, and which has just undergone a major refresh for MY 2019, is nothing if not a solid success.
-
Electric Motors for Aero and Auto
Rolls-Royce—the manufacturer of aircraft engines, not the one that makes high-end vehicles with four wheels—is working with another British company, YASA, on the development of the ACCEL, an electric airplane.