Hydro-Québec Invests in TM4
Hydro-Québec has invested $85 million to grow TM4, now called Dana TM4, to ensure its leadership position in the electric powertrain sector.
"With the investments we are making today, our partnership with Dana will continue to grow and we will be able to take advantage of all the global opportunities market related to transportation electrification. Our goal continues to be creating wealth in Québec while promoting our expertise in transportation electrification globally and thus contributing to the energy transition," said Éric Martel, President and CEO, Hydro-Québec.
The investment allows Hydro-Québec to maintain its 45 per cent interest in Dana TM4, and adds the following strategic relationships:
• Dana TM4 will hold 100 per cent of Chinese company Dana Electric Motor Co. Ltd , formerly called Prestolite E-Propulsion Systems (PEPS), in which Dana TM4 previously held a 50 per cent interest. Dana Electric Motor Co. manufactures and markets electric powertrain systems, particularly for buses and trucks. This transaction will enable Dana TM4 to optimize its operations and ensure the development of its activities in China, the fastest-growing market in terms of transportation electrification.
• Dana TM4 will also integrate the activities of electric motor company SME, an Italian company which has developed a range of electric motors and controls for a wide range of off-highway electric vehicle applications, including material handling, agriculture, construction, and automated-guided vehicles. SME low-voltage systems are a complement to the DanaTM4 high-voltage product line. This investment puts Dana TM4 in a position to offer electric powertrain systems for all types of land vehicles, including light vehicles (cars and pickups), commercial vehicles (buses and trucks), and off-highway vehicles (construction, mining, and lift trucks).
"Hydro-Québec's experience in electrification has made them a strong partner as our customers continue to expand their electric vehicle offerings. Our Dana TM4 joint venture enables us to offer a complete portfolio of technologies to support all three of the major mobility markets and we look forward to continuing our partnership," said James Kamsickas, President and CEO, Dana Incorporated.