Dana Incorporated (NYSE: DAN) announced today that it has entered into a strategic partnership with Class 8 electrification company Hyliion Incorporated. Dana is taking an equity position as a lead investor in the company. Mark Wallace, president of Dana Commercial Vehicle Driveline Technologies, will become a member of Hyliion’s board of directors.
The investment is another step in a cadence of strategic transactions to position Dana as the leader in e-Propulsion. Under the agreement, Dana becomes Hyliion’s source for traditional driveline components, as well as fully integrated e-Axles – which include motors, inverters, controls, gearboxes, and thermal-management technologies.
Hyliion, founded in 2015, develops intelligent, electric-hybrid architectures for Class 8 vehicles that can be installed on new trucks or retrofitted on existing trucks, essentially turning a traditional 6×2 truck into a 6×4 hybrid. The Hyliion 6X4HE features the company’s proprietary machine learning algorithms and battery technology to optimize fuel savings and vehicle performance for reduced emissions and a better driver experience.
“Dana’s investment in Hyliion continues to expand our growth and leadership in electrification across all vehicle segments and partners us with a front-runner in the hybridization of Class 8 vehicles for fleets ready to adopt electrified vehicles today,” Mr. Wallace said. “Together with Hyliion, we have a unique opportunity to develop long-haul solutions that revolutionize power conveyance and support fleets in meeting their efficiency goals, while simultaneously advancing decarbonization efforts.”
With its investment in Hyliion, Dana is positioned to supply customers with complete hybrid systems through Hyliion’s intelligent electric-hybrid controls, proprietary battery technology, and integration capabilities, along with Dana’s offering of:
- Spicer® Electrified e-Axles;
- TM4® motors, inverters, and power electronics;
- Long® thermal-management solutions;
- auxiliary system motors through Dana’s acquisition of SME Group; and
- traditional Spicer® axles and driveshafts
Please click here to view the full press release.