The electric motors, power inverters, and control systems manufacturer TM4 (a subsidiary of Hydro-Quebec) is now part of automotive supplier Dana.
Dana acquired a majority stake in TM4 for CA$165 million (approximately US$127 million), but Hydro-Québec will maintain a 45% interest in TM4.
The Canadian company was founded in 1998 and in the EV world is most known for its high-torque electric powertrains, that don't require additional gearboxes in electric buses and trucks. Having TM4 in its portfolio, Dana will be able to supply complete gearbox, motor, inverter, and thermal-management for electric vehicles.
Among the TM4's customers we see Workhorse, Cummins and more around the world and over in China, TM4 also formed with Prestolite Electric Beijing Limited a joint-venture Prestolite E-Propulsion Systems Limited.
"TM4 designs and manufactures motors, power inverters, and control systems for electric vehicles, offering a complementary portfolio to Dana’s electric gearboxes and thermal-management technologies for batteries, motors, and inverters. The transaction establishes Dana as the only supplier with full e-Drive design, engineering, and manufacturing capabilities – offering electro-mechanical propulsion solutions to each of its end markets.
TM4 was founded in 1998 by Hydro-Québec, Canada’s largest electricity producer and one of the world’s largest hydroelectric power producers. TM4 operates a technology and advanced manufacturing facility in Boucherville, Québec. Consistent with Dana’s proven, globally distributed technical center model, Boucherville will remain a center of excellence, with TM4’s current management team and 130 employees remaining in place.
Dana is a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery. Dana supports the passenger vehicle, commercial truck, and off-highway markets, as well as industrial and stationary equipment applications."
Jim Kamsickas, Dana president and CEO said:
“We are excited to welcome TM4 into Dana’s global family and to be partnering with Hydro-Québec, a leader in the generation of energy that fully comprehends the megatrends surrounding energy efficiency and the rapidly developing electrification infrastructure requirements around the globe. This joint venture brings together a world leader in mechanical power conveyance and thermal-management technology with an experienced manufacturer of electric motors and inverters to offer a broad range of hybrid and electric vehicle solutions for our customers across all three of our end markets.”
“Through this partnership, TM4 becomes a pillar in Dana’s e-Propulsion business. The company has an exceptionally talented team that has demonstrated a commitment to delivering world-class products and services, and we are excited about working with Hydro-Québec to profitably grow the business by providing our customers fully integrated, turnkey driveline solutions.”
Éric Martel, president and CEO of Hydro-Québec said:
“Transportation electrification is at a turning point. In this context, Hydro-Québec has initiated a rigorous process to identify the winning conditions that will allow TM4 to reach its full potential. Today’s announcement strengthens Boucherville’s position as a world-class center of excellence, and further confirms our expertise in the sector. We wanted to join an industrial partner to accelerate TM4’s market access to become a global leader, to the benefit of all Quebecers. This transaction will strengthen the activities of TM4 in Quebec.”