Dana Strengthens e-Propulsion Systems, Controls, Software, and Electronics Engineering Capabilities with Investment in Pi Innovo LLC

Rhea-AI Summary

Dana Incorporated (NYSE: DAN) announced an acquisition of a non-controlling stake in Pi Innovo LLC, a prominent player in embedded software and electronics control units. This investment aims to bolster Dana's capabilities in electric vehicles, enhancing its e-Propulsion systems and software solutions. CEO James Kamsickas emphasized the importance of controls in efficient e-Powertrain architectures, while Pi Innovo's CEO noted the partnership will expand their market reach. Dana, with $8.6 billion in sales in 2019, seeks to improve its electric vehicle offerings through this strategic collaboration.

Positive

• Acquisition of a non-controlling stake in Pi Innovo enhances Dana's electric vehicle (EV) capabilities.
• Partnership provides access to advanced software solutions for e-Propulsion systems.
• Increased market reach for both Dana and Pi Innovo in the growing e-Mobility sector.

Negative

• None.

MAUMEE, Ohio, Oct. 28, 2020 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that it has acquired a non-controlling stake in Pi Innovo LLC, a leader in embedded software solutions and electronics control units for the light vehicle, commercial vehicle, and off-highway markets.

Dana's ability to design, engineer, and deliver a complete vehicle integration for e-Propulsion systems and e-Accessories, including battery chargers, electro-hydraulic power steering systems, and e-Air compressors has positioned the company as a leader in vehicle electrification. The investment in Pi Innovo will further enable Dana to enhance its in-house electric-vehicle capabilities by providing turnkey software and control solutions for its entire portfolio of technologies.

"Software and controls are essential in the functionality of increasingly complex e-Powertrain architectures, playing a critical role in maximizing efficiency and managing the systems used throughout the vehicle," said James Kamsickas, Dana chairman and CEO. "Pi Innovo's exceptional team of engineers leverage more than 25 years of experience to provide proven, safe, and flexible solutions to meet the growing demand for automotive embedded controls in the e-Mobility market and beyond."

When combined with Dana's complete systems capabilities for e-Propulsion, the companies will be able to further enhance the flexibility, robustness, and efficiency of the entire vehicle systems, while meeting the latest functional safety requirements.

"Pi Innovo has developed advanced software and controls solutions and production ECUs to enable the efficiency and safety of electric vehicles," said Dr. Walter Lucking, CEO, Pi Innovo. "Dana's capabilities across the entire mobility spectrum will give Pi Innovo further access to a growing customer base, and the company's experience in vehicle electrification makes it an attractive partner for bringing customers complete turnkey solutions."

Headquartered near Detroit, Michigan, USA, Pi Innovo has a proven track record for delivering sophisticated modular software and controls solutions for a wide variety of applications, including electric and hybrid vehicles, while adhering to the highest functional safety requirements.

About Dana Incorporated
Dana is a world leader in providing power-conveyance and energy-management solutions that are engineered to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. Enabling the propulsion of conventional, hybrid, and electric-powered vehicles, Dana equips its customers with critical drive and motion systems; electrodynamic technologies; and thermal, sealing, and digital solutions.

In 2019, the company reported sales of $8.6 billion with 36,000 associates in 34 countries across six continents. Based in Maumee, Ohio, USA, and founded in 1904, Dana has established a high-performance culture that focuses on its people, and the company has earned recognition around the world as a top employer. Learn more at dana.com.

About Pi Innovo
Pi Innovo is an expert partner for the design and development of electronic systems and control software for the automotive, transportation, defense, industrial, and aviation industries. Pi Innovo's multi-skilled engineering teams can develop vehicle electronic systems from concept to production and have applied this capability in recent years to the challenges of vehicle electrification. OpenECU is Pi Innovo's range of adaptable, modular, reusable field-ready products that are implemented to volume production standards, and are fully "open" to custom configuration, adaptation, and further development. The OpenECU family includes ECUs, prototyping accessories, electronic circuit libraries, platform base software, model-based control strategies, and application software.

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SOURCE Dana Incorporated

FAQ

What recent investment has Dana Incorporated made regarding Pi Innovo?

Dana Incorporated has acquired a non-controlling stake in Pi Innovo LLC to enhance its electric vehicle capabilities.

How does Dana's acquisition of Pi Innovo impact its electric vehicle technology?

The acquisition allows Dana to improve its software and control solutions for e-Propulsion systems, thus enhancing vehicle performance and efficiency.

What is the significance of Dana's $8.6 billion sales figure in 2019?

The $8.6 billion figure indicates Dana's substantial market presence and its potential for growth, especially with the new investment in Pi Innovo.

Who are the key executives mentioned in Dana's investment in Pi Innovo?

James Kamsickas, the CEO of Dana, and Dr. Walter Lucking, the CEO of Pi Innovo, are the key executives involved.

What market does Pi Innovo primarily serve?

Pi Innovo primarily serves the automotive, transportation, defense, industrial, and aviation industries.