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