Dana Wins $2.7M Grant For e-Powertrain Development

  • Dana Inc DAN has bagged a $2.7 million (£2 million) grant for its Birmingham, U.K. operation to develop an e-Powertrain for OX Delivers.
  • OX Delivers is a flat-pack utility vehicle designed for emerging markets in Africa.
  • The truck is powered by Dana's Spicer Electrified eS4500i e-Drive Unit, combining an electric motor, inverter, gearbox, and software in a complete e-propulsion system.
  • The grant was awarded by the Advanced Propulsion Centre (APC) , a non-profit organization that facilitates U.K. government funding for projects supporting net-zero emission vehicles.
  • "The APC's $2.7 million grant advances Dana's development of electrified technology, driving prosperous trade in rural emerging markets," said Huw Davies, senior managing director of Dana Light Vehicle Drive Systems in Europe.
  • Price Action: DAN shares are trading lower by 1.05% at $13.20 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!