Hydro-Québec prepares to sell its electric motor to Dana

After leaving some activities Multinational HitachiHydro-Québec wants to sell its remaining 45% stake in Dana TM4, which designs and manufactures electric motors.

“Hydro-Québec is proud of what the partnership with Dana has achieved in recent years, as well as the development and commercialization of the TM4 technology,” said Maxime Aucoin, executive vice-president of strategies and finance, in a press release published Friday morning.

Based in Boucherville on Montreal's South Shore, Dana TM4's employee count has more than doubled since 2018, from 127 to 300, underlines the state-owned company.

Photo by Frances Hallin

Employees who don't talk much

Friday morning employees were not much talkers.

“We heard the news this morning,” said many of them, not wanting to be involved in the company's future on Quebec soil.

The workers were interviewed News magazine Claimed to know no more than publicly announced.

Dana CEO Jim Kamsikas and former Hydro-Québec big boss Eric Martel during the announcement of the creation of the Dana TM4 in 2018.

Photo by Pierre-Paul Poulin

Four years ago, News magazine Hydro-Québec and its joint venture Dana TM4 reportedly plan to invest $25 million to build a factory in India, have a production line in the United States and acquire British Ashwoods Electric Motors.

– More details to follow.