Dana TM4
Dana TM4, previously known as TM4 Inc., is a joint-venture between Dana Corporation and government-owned public utility Hydro-Québec. Established in 1998, it is active in the development of electric vehicle motors and related power systems. After spinning-off from Hydro-Québec's research center to commercialize their electric powertrain technologies, TM4 encountered some success in the 2000s, participating in many short-lived OEM demonstration programs. Commercially, things began to take-off in the 2010s, especially after they diversified their product ranges to serve the commercial vehicle (bus and truck) market. As of 2018, thousands of electric and hybrid vehicles were equipped with TM4 systems. To help TM4 become a global player in the supply of electric drivetrain components, Hydro-Québec, who had been its sole shareholder for most of TM4's existence, announced that it planned to set up a joint-venture with a world-scale auto parts manufacturer to facilitate the mass production and marketing of its product. In line with this strategy, it announced in June 2018 that Dana Corporation would take over as majority shareholder of the company, while it would keep a minority stake. In 2019, Hydro-Québec announces that the company has invested $85 million to maintain its 45% interest in TM4, now called Dana TM4, and that now includes the following strategic relationships: The exclusive property of Chinese company Dana Electric Motor Co. Ltd, formerly called Prestolite E-Propulsion Systems (PEPS), in which Dana TM4 previously held a 50% interest. Dana Electric Motor Co. manufactures and markets electric powertrain systems, particularly for buses and trucks. This transaction will enable Dana TM4 to optimize its operations and ensure the development of its activities in China, the fastest-growing market in terms of transportation electrification. The integration of the activities of electric motor company SME, an Italian company which has developed a range of electric motors and controls for a wide range of off-highway electric vehicle applications, including material handling, agriculture, construction, and automated-guided vehicles. SME low-voltage systems are a perfect complement to the Dana TM4 high-voltage product line. This investment puts Dana TM4 in a position to offer electric powertrain systems for all types of land vehicles, including light vehicles (cars and pickups), commercial vehicles (buses and trucks), and off-highway vehicles (construction, mining, and lift trucks). Background Technology development On August 19, 1994, the Premier of Quebec, Daniel Johnson, had announced a C$100 million project to develop an electric car for the year 2000. On August 30, 1994, Hydro-Québec had presented their first prototype based on a Dodge Intrepid. The economy in fuel consumption was evaluated between 80 and 85%. The project was cancelled in 1995 and many have seen the abandonment of this project as a repetition of the history of the CF-105. In 1998, Hydro-Québec worked on a prototype with a joint venture between Dassault Group and Société de Véhicules Electriques, the first prototypes based on a Renault Kangoo were built in 2006. Hydro-Québec has been criticized for not having taken advantage of some of its innovations. An electric wheel motor concept that struck a