MAUMEE, Ohio, Nov. 29, 2021 /PRNewswire/ -- Dana Incorporated
(NYSE: DAN) announced today that its Dana TM4 joint venture is
establishing a new manufacturing facility in Åmål, Sweden that will initially produce electric
motors for the mobility industry. This $50 million fully sustainable operation has
received $10.7 million in support
from the Swedish business development community. This new
facility further boosts Dana's ability to deliver clean-energy
technologies and fully integrated e-Propulsion systems across all
mobility markets.
This new operation will add to Dana's portfolio of global
electrodynamic facilities and will be the company's largest of
these facilities in Europe. With more than half of Dana's
three-year new business backlog coming from e-Propulsion products,
the company is increasing its capacity to deliver electric
components and systems in the region. These will support
vehicles ranging from light vehicles to medium- and heavy-duty
trucks to large construction equipment.
"At Dana we are focused on delivering technologies that support
the advancement of electrified vehicles that are also designed and
manufactured with sustainability in mind. Sweden is a leader in renewable energy, with
98 percent of energy production being fossil free, which enables us
to build our products using a more sustainable footprint in support
of a zero-emissions future," said Antonio
Valencia, president of Dana Power Technologies and Global
Electrification. "Our localized electrodynamic manufacturing
strategy empowers our customers in Europe to accelerate their electrification
journey across multiple vehicle platforms and segments."
Supported by a robust supply chain and highly automated
manufacturing methods, the facility is expected to open in late
2022 and will produce a range of Dana TM4 Motive™
high-speed electric motors for vehicles that will begin production
in the first half of 2023. The Dana TM4 Motive series
permanent-magnet electric motors are designed as an efficient
solution to meet the highest standards for efficiency, reliability,
and performance.
"Transforming the vehicle manufacturing supply chain is critical
in the shift to electric transport and I warmly welcome this
investment by Dana, one of the world's leading suppliers to the
mobility industry. The new production facility in Åmål will add
cutting-edge expertise to Sweden's
electromobility cluster while giving local employment a significant
boost from the creation of highly skilled, future-focused jobs,"
said Anna Hallberg, Minister for
Foreign Trade and Nordic Affairs.
"Dana Incorporated is one of the world's top 40 global vehicle
parts suppliers whose products have helped to drive history's
greatest vehicles, including the iconic Model T Ford. I am
delighted that Sweden can be a
springboard for Dana as the company accelerates into the electric
era. Allow me to extend our warmest welcome to the entire Dana team
and to congratulate Åmål Municipality on this significant
investment in Sweden's e-mobility
cluster," said Jan Larsson, CEO,
Business Sweden.
"This new facility builds on Dana's more than a century of
manufacturing in Sweden and will
serve a broad range of European customers. It will be adjacent to
our existing Åmål operation, which has provided support for the
mobility industry for nearly 50 years," said Patrik Palm, managing director, Dana Sweden.
"We are excited to see this e-Mobility facility help meet the
growing demand for electrified solutions by leveraging our
state-of-the-art manufacturing expertise to implement highly
automated manufacturing and final assembly lines operated by more
than 80 new employees."
Dana TM4 is a joint venture between Dana Incorporated and
Hydro-Québec, North America's
largest renewable energy producer.
About Dana Incorporated
Dana is a leader in the design
and manufacture of highly efficient propulsion and
energy-management solutions that power vehicles and machines in all
mobility markets across the globe. The company is shaping
sustainable progress through its conventional and clean-energy
solutions that support nearly every vehicle manufacturer with drive
and motion systems; electrodynamic technologies, including software
and controls; and thermal, sealing, and digital solutions.
Based in Maumee, Ohio, USA, the
company reported sales of $7.1
billion in 2020 with 38,000 associates in 33 countries
across six continents. Founded in 1904, Dana was named one of
"America's Most Responsible Companies 2021" by Newsweek for its
emphasis on sustainability and social responsibility. The
company is driven by a high-performance culture that focuses on
valuing others, inspiring innovation, growing responsibly, and
winning together, earning it global recognition as a top employer,
including "World's Best Employer" from Forbes magazine. Learn
more at dana.com.
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SOURCE Dana Incorporated