Dana's joint venture partner makes major investment in Dana TM4 motor business
By Jim Gibbins - 1st November 2019
USA / Canada / China - Dana Corporation of Maumee, Ohio has announced its majority-owned electric motor subsidiary, Dana TM4 of Boucherville, Québec, Canada, has taken full control of TM4’s former joint venture company with Prestolite in China. Dana TM4 now holds 100% of the Chinese company, Dana Electric Motor Co Ltd, which was formerly called Prestolite E-Propulsion Systems (PEPS), in which Dana TM4 previously held a 50% interest; the other interest was owned by Chinese industrial conglomerate, Broad-Ocean Motor (Zhongshan Broad-Ocean Motor Co Ltd) of Zhongshan, Guangdong Province.
Dana Electric Motor Co manufactures and markets electric powertrain systems, particularly for buses and trucks. Dana states this transaction will enable Dana TM4 to optimize its operations and ensure the development of its activities in China.
