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.