Mexican Media Brands
Allison Transmission Buys AxleTech’s EV Tech Unit
Indianapolis-based Allison Transmission Holdings Inc. has agreed to purchase AxleTech International LLC’s Electric Vehicle Systems division.
#hybrid
Share
Indianapolis-based Allison Transmission Holdings Inc. has agreed to purchase AxleTech International LLC’s Electric Vehicle Systems division.
The transaction consists of the assets, intellectual property, products and about 40 employees involved in AxleTech's advanced integrated electrification systems. Financial terms weren’t disclosed.
Allison Transmission will integrate the business into its existing electrification operations. The company, which makes hybrid propulsion systems for city buses, is the largest manufacturer of automatic transmissions for medium- and heavy-duty commercial vehicles.
The divestiture allows AxleTech to focus on its core off-highway drivetrain products and on-highway aftermarket systems. Founded in 1919, the Troy, Mich.-based company (previously part of Rockwell International and Meritor) is now owned by The Carlyle Group.
RELATED CONTENT
-
EV Truck & SUV That Aren’t Rivian
A closer look at what Bollinger Motors is developing
-
The Genovation GXE: >220 mph and Street Legal
A 2019 Corvette Grand Sport has a starting price on the order of $66,950. The Genovation GXE, which is predicated on the Corvette Grand Sport, will set you back some $750,000.
-
Electric Motors for Aero and Auto
Rolls-Royce—the manufacturer of aircraft engines, not the one that makes high-end vehicles with four wheels—is working with another British company, YASA, on the development of the ACCEL, an electric airplane.