USA– Chassis components supplier, Dana Incorporated of Maumee, Ohio, USA, announced plans to split its Power Technology segment into two by “integrating the OEM-facing businesses into its Light Vehicle Drive Systems segment and the aftermarket business into its Commercial Vehicle Drive and Motion Systems segment.” This decision is part of a broader strategy to focus on Dana's core competencies in light and commercial vehicle markets and save USD 175 million after disappointing 2024 sales figures of USD 10.3 billion, down from USD 10.6 billion in 2023. According to Dana, this was a result of weakening demand for EVs, trucks and off-highway equipment. This follows the 2024 announcement that Dana plans to sell its Off-Highway business to unlock substantial shareholder value.

The strategy to streamline operations and enhance shareholder value will fall on the shoulders of new interim Chairman and Chief Executive Officer R. Bruce McDonald, who took over from James Kamsickas late last year. Kamsickas remains an advisor to the company through March 2025 as the company looks for a permanent CEO.