Dana Incorporated, a producer of drivetrain and e-propulsion systems, and Ashok Leyland-owned Switch Mobility have announced the signing of an agreement under which Dana will make a strategic investment in Switch Mobility and become a preferred supplier of electric drivetrain components for the company’s e-bus and EV commercial vehicle offering. It will provide electric drive axles, gearboxes, motors, inverters, software and controls, and electronics cooling.
James Kamsickas, Dana Chairman and CEO, said: “Light commercial vehicles and buses continue to present significant opportunities as they lead the commercial vehicle segment’s shift to fully electrified platforms. We are pleased to extend our relationships with our long-standing customers Ashok Leyland and Switch Mobility as they continue to grow and implement their next-generation, road-proven technology that will enable a direct, positive impact on delivering sustainable urban e-mobility.”
Dheeraj Hinduja, Chairman of Switch Mobility, added: “Dana has over a century of proven track record of leading transformative vehicle technologies. In Switch Mobility, we have an ambitious plan to be leading the zero-carbon mobility globally through positioning innovative products and solutions with best-in-class TCO. I believe the co-operation with Dana will accelerate the process, building on our strong relationship of many years. Through the synergy between us and with our shared aspirations, I am confident we will enhance our product offerings significantly and extend our market footprints in many new geographies.”
Commenting on Dana’s investment in Switch, Dheeraj concluded: “Dana has a long-standing relationship with Ashok Leyland. This now extends to Switch Mobility and we are happy to have Dana invest in the company. With this agreement Dana not only becomes an important supplier to Switch but will also invest US$18m in the company, representing an approximate 1% stake. The investment exemplifies the confidence placed by Dana in Switch and will help to strengthen the relationship further.”