Dana to acquire minor stake in Switch Mobility
By Bradley Osborne - 2nd August 2021
USA / UK – Dana Incorporated, a manufacturer of chassis components based in Maumee, Ohio, USA says it plans to make a strategic investment in Sherburn in Elmet-based bus manufacturer, Switch Mobility Ltd, as part of an agreement whereby Dana becomes a preferred supplier. Dana is to make a minority investment in Switch, representing USD18m, which will give it a 1% stake in the company.
Under the terms of the agreement between the two companies, Dana will become a preferred supplier of electric drivetrain components for Switch’s EVs, providing e-Axles, gearboxes, motors, inverters, software and controls, and electronics cooling.
