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Benzinga
Benzinga
Business
Shivani Kumaresan

Dana Wins $2.7M Grant For e-Powertrain Development

Dan (Organization) DANA (Organization) APC Huw Davies NYSE Emerging Markets Africa Birmingham Europe
  • Dana Inc (NYSE: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.
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