INDIANAPOLIS--(BUSINESS WIRE)--Apr. 23, 2019--
Allison Transmission Holdings Inc. (NYSE: ALSN), the largest global
manufacturer of medium- and heavy-duty fully automatic transmissions,
announced today that it has purchased Vantage Power and AxleTech’s
electric vehicle (EV) systems division.
Allison Transmission has a more than 103-year history of leading
technological advancements: from James Allison owning the winning
racecar of the Indianapolis 500 Mile Race in 1915 to building every
transmission that is in the United States Army’s Abrams Battle Tank.
Allison is building upon the legacy of those and other advancements with
an electrification strategy that leverages and extends current electric
hybrid technologies, develops new electrified propulsion solutions, and
expands system and integration level capabilities in alternative
propulsion. Both of these acquisitions align with Allison’s leading
innovator position in propulsion technology, and will complement its
existing capabilities to advance electrification adoption in commercial
vehicles.
Vantage Power is an award-winning London-based technology company
specializing in developing electrified propulsion and connected vehicle
technologies for medium- and heavy-duty vehicle manufacturers and their
suppliers. With particular focus on battery technology development,
vehicle integration and control systems, as well as vehicle connectivity
and telemetry, Vantage Power technologies have been deployed in a wide
range of applications including complete electric hybrid repower systems
for buses to grid energy storage.
“Vantage Power’s entrepreneurial spirit and technological advancements
complement our strategic priorities to meet and exceed our customers’
demands,” said David S. Graziosi, President and CEO of Allison
Transmission. “Through this and other growth initiatives, we will
continue to build upon our conventional and electric hybrid products
today while differentiating ourselves in the electrification and fuel
cell markets.”
AxleTech is a leading technology company that designs, engineers,
manufactures, sells and services axles and integrated electrified axle
solutions for on- and off-highway heavy-duty commercial vehicles. With
industrial roots established in 1919, the company’s nearly 800 worldwide
employees drive the company to develop advanced powertrain systems,
axles, components and aftermarket parts for global customers. The EV
systems division is located at AxleTech’s headquarters in Troy, Michigan.
“AxleTech’s highly integrated solutions in the EV space and their
presence in Allison’s end markets complement our position as a leading
propulsion solutions provider,” said Graziosi. “The talented individuals
and products within AxleTech’s EV systems division and their
capabilities will combine well with our current products expertise to
create and provide unmatched propulsion solutions.”
About Vantage Power
Vantage Power is an award-winning London-based technology company
specializing in developing electrified and connected technologies for
heavy-duty vehicle manufacturers and tier 1 suppliers. With a particular
focus on battery packs, control systems, next generation telemetry and
system design and integration expertise, Vantage Power technology has
been deployed in a wide range of applications from hybrid repower
systems for buses through to grid energy storage systems. For more
information about Vantage Power, please visit vantage-power.com.
About AxleTech
AxleTech is a leading technology company that engineers, designs,
manufactures, sells and services powertrain solutions for on-and
off-highway heavy-duty commercial vehicles. With industrial roots
established in 1919, the company’s nearly 800 worldwide employees drive
the company to develop advanced powertrain systems, axles, brakes,
components and aftermarket parts for global customers. Headquartered in
Troy, Michigan, the company has locations in Oshkosh, Wisconsin;
Chicago; Saint-Étienne, France; Osasco, Brazil; Pune, India; and
Shanghai, China. For more information about AxleTech, please visit
axletech.com.
About Allison Transmission
Allison Transmission (NYSE: ALSN) is the world's largest manufacturer of
fully automatic transmissions for medium- and heavy-duty commercial
vehicles. Allison transmissions are used in a variety of applications
including refuse, construction, fire, distribution, bus, motorhomes,
defense and energy. Founded in 1915, the company is headquartered in
Indianapolis, Indiana, USA and employs approximately 2,900 people
worldwide. With a market presence in more than 80 countries, Allison has
regional headquarters in the Netherlands, China and Brazil with
manufacturing facilities in the U.S., Hungary and India. Allison also
has approximately 1,400 independent distributor and dealer locations
worldwide. For more information, visit allisontransmission.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190423005122/en/
Source: Allison Transmission
Raymond Posadas
Investor Relations
ir@allisontransmission.com
(317)
242-3078
Claire Gregory
Director of Communications and Media Relations
Claire.Gregory@allisontransmission.com
(317)
695-9124