04.07.2018

Dana acquires TM4 electric drive

Global drive train and transmission supplier Dana has acquired a controlling interest in Canadian electric drive component manufacturer TM4. The deal is in the form of a joint venture with current owner Hydro-Québec retaining a 45 percent stake.

TM4 - which was founded by Hydro-Québec in 1998 - will become Dana's main source for electric motors, power inverters and control systems which it designs and manufactures for electric vehicles. Dana is paying CA$165 million ($125 million) for its 55 percent stake and will retain the current management and 130 employees based at its technology and advanced manufacturing facility in Boucherville, Québec which will remain a centre of e-Drive excellence.

Dana will now offer a complementary portfolio to its electric gearboxes and thermal management technologies for batteries, motors, and inverters. The company now claims to be the only supplier with full e-Drive design, engineering, and manufacturing capability offering electro-mechanical propulsion solutions to each of its end markets.

The deal also strengthens Dana's position in China - the world's fastest-growing market for electric vehicles - as TM4 and Prestolite Electric Beijing have a 50-50 joint venture in China - Prestolite E-Propulsion Systems - which offers electric mobility solutions throughout China and the ASEAN region.

"We are excited to welcome TM4 into Dana's global family and to be partnering with Hydro-Québec," said Dana chief executive Jim Kamsickas. "This joint venture brings together a world leader in mechanical power conveyance and thermal-management technology with an experienced manufacturer of electric motors and inverters to offer a broad range of hybrid and electric vehicle solutions for our customers across all three of our end markets."