Dana to JV builds EV motors in Sweden
Dana TM4 joint venture said that it is establishing a new factory in Amal, Sweden, which would initially manufacture electric motors for electric cars.
The $ 50 million business had received $ 10.7 million in support from the Swedish business development community.
This new business would be the supplier’s largest of such factories in Europe. With more than half of its three-year lag of new business from e-propulsion products, the company increased its capacity to supply electrical components and systems in the region.
These would be used in all types of vehicles including heavy trucks for large construction equipment.
“Sweden is a leader in renewable energy, where 98% of energy production is fossil-free, which means that we can build our products with a more sustainable footprint,” says Antonio Valencia, CEO of Dana Power Technologies and Global Electrification.
The plant was expected to open in late 2022 and would manufacture a series of TM4 Motive high-speed electric motors for vehicles that would begin production in the first half of 2023.
Dana has been manufacturing in Sweden for 100 years and the new factory would be adjacent to the Amal operations, which have supplied the car industry for 50 years.
New manufacturing and final assembly lines would be operated by 80 new employees.
Dana TM4 is a joint venture between Dana and Hydro-Quebec.