Dana has entered into a strategic partnership with Hyliion, which will see the New York-listed company take an equity position as a lead investor in the Class 8 electrification company.
Dana said: “The investment is another step in a cadence of strategic transactions to position Dana as the leader in e-propulsion.”
Under the agreement, Dana will become Hyliion’s source for traditional driveline components, as well as fully integrated e-axles – which include motors, inverters, controls, gearboxes, and thermal-management technologies.
Hyliion, founded in 2015, develops intelligent, electric-hybrid architectures for Class 8 vehicles that can be installed on new trucks or retrofitted on existing trucks. This could, essentially, see it turning a traditional 6×2 truck into a 6×4 hybrid. “The Hyliion 6X4HE features the company’s proprietary machine-learning algorithms and battery technology to optimise fuel savings and vehicle performance for reduced emissions and a better driver experience,” Dana said.
Mark Wallace, President of Dana Commercial Vehicle Driveline Technologies, who will become a member of Hyliion’s board of directors as part of the deal, said: “Dana’s investment in Hyliion continues to expand our growth and leadership in electrification across all vehicle segments and partners us with a front-runner in the hybridisation of Class 8 vehicles for fleets ready to adopt electrified vehicles today.
“Together with Hyliion, we have a unique opportunity to develop long-haul solutions that revolutionise power conveyance and support fleets in meeting their efficiency goals, while simultaneously advancing de-carbonisation efforts.”
With its investment in Hyliion, Dana is positioned to supply customers with complete hybrid systems through Hyliion’s intelligent electric-hybrid controls, proprietary battery technology, and integration capabilities, along with Dana’s offering of Spicer® Electrified e-Axles; TM4® motors, inverters, and power electronics; Long® thermal-management solutions; auxiliary system motors through Dana’s acquisition of SME Group; and traditional Spicer® axles and driveshafts, Dana said.
Thomas Healy, CEO of Hyliion, said: “Dana’s wealth of knowledge and extensive strategic experience in the commercial-vehicle market creates a dynamic combination for our Class 8 hybrid platform. We are excited to be joining forces to offer a go-to-market solution for fleets seeking e-propulsion technologies available today in the Class 8 segment.”
Dana’s established field service specialists will work together with Hyliion’s team to jointly call on fleets throughout North America, Dana said.
Hyliion offers fleets a way to decrease fuel expenses and lower emissions by turning semi-tractors into intelligent electric hybrid vehicles. Its patented technology can be used on new or existing vehicles. Requiring no driver training, Hyliion products reduce fuel consumption, reduce emissions, and provide a positive return to fleets and the environment immediately, Dana said.