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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.
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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.
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