Dana Inc. and Hydro-Québec announced a joint venture in which TM4 Inc., a subsidiary of Hydro-Québec, will become Dana’s source for electric motors, power inverters and control systems. Dana will become a majority shareholder of TM4 in exchange for $127 million. Hydro-Québec will maintain a 45% 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 reportedly establishes Dana as the only supplier with full e-Drive design, engineering, and manufacturing capabilities offering electromechanical propulsion solutions to each of its end markets. It also strengthens Dana’s position in China, Dana reported.
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