DANA Inc (NYSE: DAN)

Dana Incorporated is a world leader in providing power conveyance and energy management solutions for on highway vehicles. The company designs manufactures and sells axles driveshafts transmissions sealing thermal products and electrification components such as motors inverters controllers e axle systems e transmission systems and digital solutions. These products improve the efficiency performance and sustainability of light and commercial vehicles powered by internal combustion hybrid and electric systems.

Dana generates revenue primarily by selling its products to original equipment manufacturers that produce light trucks sport utility vehicles crossover utility vehicles vans passenger cars trucks buses and other on highway vehicles. In addition the company serves the aftermarket through its commercial vehicle segment providing replacement parts and services to vehicle owners and fleet operators. Sales are also supported by long term supply agreements and engineering collaborations with major automakers worldwide.

The company operates through the following segments: Light Vehicle Drive Systems and Commercial Vehicle Drive and Motion Systems.

• Light Vehicle Drive Systems focuses on serving light vehicle original equipment manufacturers with products for light trucks sport utility vehicles crossover utility vehicles vans and passenger cars including axles driveshafts transmissions sealing thermal products and electrification offerings such as e axle systems e transmission inverters electric motors and controllers.

• Commercial Vehicle Drive and Motion Systems serves on highway commercial vehicle original equipment manufacturers primarily trucks and buses with axles driveshafts hybrid and e transmissions e axle systems e transmission inverters electric motors controllers sealing thermal products and also manages the aftermarket business providing replacement parts and services to fleet operators.

Dana holds a strong position among global suppliers of power train components competing with companies such as Borg Warner Magna International American Axle Mahle Denso Schaeffler ElringKlinger Tenneco Hanon Systems Valeo and ZF Friedrichshafen in the light vehicle market and with Allison Transmission Freudenberg BorgWarner Hendrickson Cummins Danfoss and Eaton in the commercial vehicle market. The company differentiates itself through a focus on innovation efficiency performance reliability sustainability and the ability to offer integrated solutions across internal combustion hybrid and electric platforms. Its long standing relationships with major automakers and a diversified product portfolio provide competitive advantages.

Dana's customer base consists largely of original equipment manufacturers in the light medium and heavy duty vehicle sectors. Ford Motor Company and Stellantis NV are the largest customers each representing more than ten percent of total sales. Other major buyers include Toyota Motor Corporation Volkswagen AG including its Traton division PACCAR Inc AB Volvo Daimler Truck Ford Motor Company CNH Industrial Stellantis Hinduja Group Oshkosh Corporation and Renault Nissan Mitsubishi. The ten largest customers together account for roughly three quarters of annual revenue.