MAUMEE, Ohio, and LEEDS, U.K., July 29, 2021 — Dana Incorporated (NYSE: DAN), a global leader in drivetrain and e-propulsion systems, and Switch Mobility Ltd. (‘Switch Mobility’ or ‘the company’), the electrified commercial vehicles company and subsidiary of Ashok Leyland Ltd, a leading commercial-vehicle manufacturer, announced today the signing of a strategic agreement between the two entities.
Under the terms of the agreement, Dana will make a strategic investment in Switch Mobility and become a preferred supplier of electric drivetrain components for the company’s e-bus and EV commercial vehicle offering, providing e-Axles, gearboxes, motors, inverters, software and controls, and electronics cooling.
James Kamsickas, Dana Chairman and CEO, said: “Light commercial vehicles and buses continue to present significant opportunities as they lead the commercial-vehicle segment’s shift to fully electrified platforms. We are pleased to extend our relationships with our long-standing customers, Ashok Leyland and Switch Mobility, as they continue to grow and implement their next-generation, road-proven technology that will enable a direct, positive impact on delivering sustainable urban e-mobility.”
Dheeraj Hinduja, Chairman of Switch Mobility, added: “Dana has over a century of proven track record of leading transformative vehicle technologies. In Switch Mobility, we have an ambitious plan to be leading the zero-carbon mobility globally through positioning innovative products and solutions with best-in-class TCO. I believe the co-operation with Dana will accelerate the process, building on our strong relationship of many years. Through the synergy between us and with our shared aspirations, I am confident we will enhance our product offerings significantly and extend our market footprints in many new geographies.”
Switch Mobility combines the electrical commercial vehicle operations of Ashok Leyland in India and Optare in U.K. to secure a leading global position in net zero carbon buses and light commercial vehicles.