Dear Stakeholders,
Dana has been transforming the mobility industry since its founding in 1904.
Longevity in this business — 120 years and counting — comes from passion, purpose, and persistence.
Qualities that have shaped our leadership position in e-Propulsion technologies and our approach to tackling climate change through meaningful and lasting action.
Addressing the most significant challenge of our time means setting ambitions climate goals as Dana has done.
Committing to be net zero by 2040 and accelerating the reduction of Scope 1 and 2 greenhouse gas (GHG) emissions with plans to achieve a more than 75% decrease by 2030.
It's also about transparently measuring, validating, and reporting on targets using a science-based approach. Following validation of our climate commitments by the Science Based Target initiative (SBTi), Dana initiated a revised validation process for our 2040 net zero target and other climate actions.
Our partnership with SBTi helps to drive sustainable best practices and lead the way to a zero-carbon economy.
Dana’s annual reporting to the Carbon Disclosure Project further supports their important mission to collect, measure, and reduce global GHG emissions.
Dana's in-house advantage in electrification powers complete, fully integrated electrified systems for all mobility markets.
James Kamsickas, Dana Chairman and CEO
A keynote speaker at the Advanced Clean Energy Transportation (ACT) Expo May 2, 2023, Anaheim, California, United States
Changing Our World Through e-Propulsion
In 2023, we were selected to support fully integrated e‑Propulsion systems for all-new EV programs for global vehicle manufactures across all end markets.
Over this past year, we have not only further built on our growth trajectory — with record sales and program launches across a balanced product portfolio — but strategically propelled our customers at varying phases in their electrification journeys.
Currently, 74% of Dana's three-year new business backlog comes from innovating next-generation clean-energy technologies.
These capabilities are powered by Dana’s in-house advantage in electrification delivering complete, fully integrated electrified systems for all mobility markets with gearbox, low- to high-voltage motor, inverter, controls, and thermal management expertise.
A pipeline of innovative thinking is supported across a global network of Dana Technology Centers which are home to some of the world's most creative minds. Our technologies have been recognized with nine Automotive News PACE Awards — heralding the industry's game-changing innovations — and been a finalist on 25 occasions.
It's a mindset of embracing change. Of questioning and being curious. Of a proactive approach to partnering with customers. We recognize the privilege of enhancing their most iconic and technologically advanced vehicles and the weight of responsibility entrusted to us.
From the introduction of Dana's electrified drivetrain offerings supporting the construction industry; to a new 8-speed, dual-clutch hybrid transmission for the super sports cars segment; to our metallic bipolar plates engineered to optimize performance and advance the commercialization of hydrogen fuel for mobility and industrial power conveyance applications — 2023 was a benchmark year.
We will continue to deliver leading-edge power management innovations to champion our customers' clean energy priorities anywhere in the world.
Setting the Standard
Within the mobility industry, we have a unique opportunity to lead by example, not only in designing and developing technologies but in how we manufacture to reduce our impact on the environment.
We progress hundreds of global efficiency projects annually across Dana and incorporate ESG data into our global sourcing strategies. ESG data comprises a significant portion our supplier scorecard which we use to assess and select our suppliers.
We have been advancing our environmental management systems and have certified all of Dana's major manufacturing sites to International Organization for Standardization (ISO) 14001:2015.
This ISO internationally recognized standard sets out the requirements for an environmental management system, helping organizations continually improve their environmental performance through efficient use of resources, reduction of waste, and regulatory compliance.
We have also been actioning renewable energy. In 2023, our United States wind facility generated 324,637 megawatt hours of renewable electricity representing a 99.8% offset of Dana’s Scope 2 emissions from purchased electricity in the United States and Canada.
Scheduled to commence operations in January 2025, our European solar facility will supply Dana with approximately 240,000 megawatt hours per year of renewable energy, targeting a 100% offset of Dana's Scope 2 emissions from purchased electricity in Europe.
We will keep pursuing these and other impactful solutions to reduce our carbon footprint and protect our shared planet.
One Dana, Everywhere
As we power the vehicles and machines that move our world, we value others. We treat people with respect and integrity.
Recent recognition include being named a ‘World’s Most Ethical Company 2024’ by Ethisphere, one of ‘America’s Most Responsible Companies 2024’ by Newsweek, and ‘Top Employer 2024’ in most of countries in which we operate by the Top Employer Institute.
At Dana, we value creativity and place a focus on customer success that underscores everything we do. Multiple customer awards from Caterpillar, Daimler, Ford, General Motors, Idealease, JLR, John Deere, PACCAR, Sany, Tata, Toyota, Volkswagen, AB Volvo, among others completed the picture in 2023.
It all adds up.
I couldn’t be prouder of our 42,000 people in over 30 countries who power innovation to move our world. And I am profoundly thankful for their work.
We have hurdled barriers that once seemed impossible to clear. We embrace the journey together as ‘One Dana’ with dedication to each other, to our customers, to our communities, and to our planet.
My personal best,
James K. Kamsickas
Chairman and Chief Executive Officer