Dana Acquires SME Group, Enhances Electromobility Capabilities and Global Reach
The addition of SME's low-voltage motors and inverters, which are primarily designed to meet the evolution of electrification in off-highway equipment, significantly expands Dana's electrified product portfolio.
"Dana's acquisition of SME enhances our ability to address the electrification and hybridization needs of our customers, while also increasing the potential for incremental content per vehicle," said
"Dana is equipped to provide complete e-Propulsion systems that balance the demands for performance, power density, and weight," said
Dana's existing portfolio of Spicer® Electrified™ with TM4® motors and inverters combined with SME's low-voltage motors will expand the company's capabilities to applications ranging up to 250kW.
The privately held
Dana's electrification capabilities will be further strengthened by the anticipated acquisition of the Drive Systems segment of the Oerlikon group, enabling Dana to provide products for a broad range of hybrid and electric-vehicle configurations. The transaction is expected to close in the first quarter of 2019.
About
Dana is a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery. Dana supports the passenger vehicle, commercial truck, and off-highway markets, as well as industrial and stationary equipment applications. Founded in 1904, Dana employs approximately 30,000 people in 33 countries on six continents who are committed to delivering long-term value to customers. Based in
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SOURCE
Jeff Cole, 419-887-3535, jeff.cole@dana.com