Dana acquired SME Group.

Dana, a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery, acquired SME Group. The global SME Group designs, engineers, and manufactures low-voltage AC induction and synchronous reluctance motors, inverters, and controls for a wide range of off-highway electric vehicle applications, including material handling, agriculture, construction, and automated-guided vehicles. Financial terms were not disclosed. "Dana is equipped to provide complete e-Propulsion systems that balance the demands for performance, power density, and weight," said Christophe Dominiak, chief technology officer for Dana. "The addition of SME's low-voltage induction motors rounds out our already robust offering of high-voltage permanent magnet motors and enables us to deliver a complete range of electrified solutions for our customers."