Dana Inc. and Hydro-Québec have set up a joint-venture partnership in which TM4, a subsidiary of Hydro-Québec, will supply Dana with electric motor systems. In return, Dana will become a majority shareholder of TM4 for CA$165 million (US$127 million).
While Hydro-Québec will maintain a 45 percent interest in TM4, the transaction will essentially enable Dana to become the exclusive supplier with full e-Drive design, engineering, and manufacturing capabilities.
TM4 making motors, power inverters, and control systems for electric vehicles, offers a complementary portfolio to Dana’s electric gearboxes and thermal-management technologies for batteries, motors, and inverters.
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