Dana Corporation and Emerson have reached an agreement in principle to jointly develop advanced actuator systems for the automotive market. Details of the relationship are pending a final agreement expected soon.
The Dana-Emerson partnership will initially focus on the development of a series of actuator products and related components for the global electric steering market. Potential products will include motors and electronic control units, and electric power packs for electro-hydraulic power steering (EHPS) and electric-power steering (EPS) applications.
Dana and Emerson have identified significant market opportunities with selected original equipment and Tier I customers in both EHPS and EPS totalling nearly $500 million, providing a strong starting position to broaden their partnership.
With completion of the partnership details and regulatory consent, headquarters would be established in Feltham, UK, with additional manufacturing operations in Slovakia.