Dana TM4 establishes new electrodynamics plant in Åmål, Sweden
MAUMEE, Ohio, November 29, 2021 / PRNewswire / – Dana Incorporated (NYSE: DAN) announced today that their Dana TM4 joint venture is establishing a new manufacturing facility in Åmål, Sweden which will initially produce electric motors for the mobility industry. This $ 50 million completely sustainable operation has received $ 10.7 million to support from Swedish business development. This new facility increases Dana’s ability to deliver clean energy technology and fully integrated e-propulsion systems in all mobility markets.
This new business will add to Denmark’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-old new business portfolio coming from e-Propulsion products, the company is increasing its capacity to supply electrical components and systems in the region. These will support vehicles ranging from light vehicles to medium and heavy trucks to large construction equipment.
At Dana, we are focused on delivering technologies that support the development 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 with a more sustainable footprint in support of a future with zero emissions “, says Antonio Valencia, CEO of Dana Power Technologies and Global Electrification. “Our localized electrodynamic manufacturing strategy strengthens our customers Europe to accelerate its electrification journey across multiple vehicle platforms and segments. “
With the support of a robust supply chain and highly automated manufacturing methods, the plant is expected to open at the end of 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 magnetic electric motors are designed as an efficient solution to meet the highest standards of efficiency, reliability and performance.
“Changing the vehicle manufacturing chain is crucial in the transition 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 electromobility clusters while giving local employment a significant boost through the creation of highly qualified, future-focused jobs, “said Anna Hallberg, Minister for Foreign Trade and Nordic Affairs.
“Dana Incorporated is one of the world’s 40 leading global suppliers of vehicle parts whose products have helped drive history’s premier vehicles, including the iconic Model T Ford. I’m glad to Sweden can become a springboard for Dana as the company accelerates into the electric era. Let me warmly welcome the entire Dana team and congratulate the municipality of Åmål on this significant investment in Sweden e-mobility cluster “, said Jan Larsson, VD, Business Sweden.
“This new facility is based on Dana’s more than a century of manufacturing during Sweden and will serve a wide range of European customers. It will be adjacent to our existing Åmåls operations, which have provided support to the mobility industry for almost 50 years “, says Patrick Palm, CEO, Dana Sweden. “We are pleased 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 largest producer of renewable energy.
About Dana Incorporated
Dana is a leader in the design and manufacture of highly efficient propulsion and energy management solutions that power vehicles and machinery in all mobility markets worldwide. The company is making sustainable progress through its conventional and clean energy solutions that support almost all vehicle manufacturers with drive and motion systems; electrodynamic technology, including software and controls; and thermal, sealing and digital solutions.
Based in Maumee, Ohio, USA, the company reported sales of $ 7.1 billion 2020 with 38,000 employees in 33 countries on six continents. Dana was founded in 1904 and 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-performing culture that focuses on valuing others, inspiring innovation, growing responsibly and winning together, giving it global recognition as a top employer, including “World’s Best Employer” by Forbes magazine. Read more at dana.com.
SOURCE Dana Incorporated