Dana closes its acquisition of SME Group

The addition of SME's low-voltage motors and inverters, which are primarily designed to meet the evolution of electrification in off-highway equipment, significantly expands Dana's electrified product portfolio. "Dana's acquisition of SME enhances our ability to address the electrification and hybridization needs of our customers, while also increasing the potential for incremental content per vehicle," said Jim Kamsickas, president and chief executive officer of Dana, in a press release. "SME's exceptional electric motor and inverter products, which largely support off-highway applications, are highly complementary to the technologies we acquired with TM4, which are predominately focused on light- and commercial-vehicle applications." The privately held SME Group employs more than 100 people and operates in China, Germany, Canada, and Italy. Dana's electrification capabilities has also been further strengthened by the acquisition of the Drive Systems segment of the Oerlikon group, which has enabled Dana to provide products for a broad range of hybrid and electric-vehicle configurations.