MAUMEE, Ohio, March 22, 2018 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) has announced new contracts to supply front and rear axles for the next generation of iconic Jaguar and Land Rover luxury vehicles. The estimated value for these programs total more than £300 million.
Dana's latest Spicer® AdvanTEK® axles will deliver greater power density in a compact package, achieving improved fuel efficiency, enhanced performance, and maximum durability. The axles are designed to ensure a luxurious ride with best-in-class noise, vibration, and harshness performance.
James Kamsickas, Dana president and CEO, said: "We are proud to be a trusted long-term partner with Jaguar Land Rover. Throughout our 70-year relationship, we have demonstrated a commitment to understanding their unique requirements, allowing us to deliver superior performance for the luxury-vehicle segment. These new contracts with Jaguar Land Rover are a testament to Dana's commitment to engineering and our ability to meet the demands of the market."
Dana's total investment for the Jaguar Land Rover programs is expected to be approximately £21 million. The axles are produced at Dana's Birmingham, England, facility.
About Dana Incorporated
Dana is a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery. Dana supports the passenger vehicle, commercial truck, and off-highway markets, as well as industrial and stationary equipment applications. Founded in 1904, Dana employs more than 30,000 people in 33 countries on six continents who are committed to delivering long-term value to customers. The company reported preliminary sales of more than $7.2 billion in 2017. Based in Maumee, Ohio, Dana is ranked among the Drucker Institute's listing of the 250 most effectively managed companies. For more information, please visit dana.com.
SOURCE Dana Incorporated