Dana Inc. said it has taken an equity position as a lead investor as part of a strategic partnership with Hyliion Inc.
Founded in 2015, Hyliion develops electric-hybrid architectures for Class 8 vehicles that can be installed on new trucks or retrofitted on existing models.
The Hyliion 6X4HE system features machine learning algorithms and battery technology to optimize fuel savings and vehicle performance for reduced emissions.
Under the agreement, Dana has becomes Hyliion’s source for traditional driveline components, as well as fully integrated e-Axles – which include motors, inverters, controls, gearboxes, and thermal-management technologies.
In addition, Mark Wallace, president of Dana Commercial Vehicle Driveline Technologies, will become a member of Hyliion’s board of directors.
“Together with Hyliion, we have a unique opportunity to develop long-haul solutions that revolutionize power conveyance and support fleets in meeting their efficiency goals, while simultaneously advancing decarbonization efforts,” said Wallace.
“Dana’s wealth of knowledge and extensive strategic experience in the commercial-vehicle market creates a dynamic combination for our Class 8 hybrid platform,” said Thomas Healy, CEO of Hyliion. “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.”
