Automotive supplier Dana has announced the acquisition of SME Group, an Italy-based manufacturer of motors, inverters and controls for off-highway electrified vehicle applications.
SME’s low-voltage motors and inverters target the electrification of off-highway equipment for applications including agriculture, automated guided vehicles, construction, and material handling. The acquisition will expand Dana’s portfolio of electrified products.
“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 Dana CEO Jim Kamsickas. “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.”
Dana is also anticipated to acquire the Drive Systems segment of the Oerlikon group in the first quarter of 2019.
Source: Electric Vehicles Magazine