Welcome to our dedicated page for ALLISON TRANSMISSION HOLDINGS news (Ticker: ALSN), a resource for investors and traders seeking the latest updates and insights on ALLISON TRANSMISSION HOLDINGS stock.
Allison Transmission Holdings, Inc. (NYSE: ALSN) stands as the world's largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles, and a leader in hybrid-propulsion systems for city buses. Founded in 1915, Allison is headquartered in Indianapolis, Indiana, USA, and employs approximately 2,700 people worldwide. The company boasts a strong global presence with operations in over 80 countries and regional headquarters in the Netherlands, China, and Brazil.
Allison's products are utilized in a diverse array of applications, including refuse, construction, fire, distribution, bus, motorhomes, defense, and energy sectors. Their transmissions are designed to enhance fuel and operator efficiency, making them a preferred choice over manual and automated manual transmissions. With a commanding presence in the on-highway business, Allison holds about 60% of the global market share in Class 4-8 trucks, buses, and certain heavy-duty passenger vehicles like motorhomes.
Committed to innovation, Allison is at the forefront of developing electric hybrid propulsion systems and e-powertrains, extending its technological reach into sustainable transportation solutions. A testament to this commitment is the recent partnership with New Flyer to equip New Orleans' buses with Allison's eGen Flex® electric hybrid propulsion system, offering enhanced sustainability and emergency preparedness capabilities.
Allison also prides itself on a robust and expansive service network, with approximately 1,600 independent distributor and dealer locations worldwide. Recent expansions include a new authorized service location in Rwanda and collaborations with major partners such as Penske in Australia and Polska Grupa Zbrojeniowa in Europe, ensuring comprehensive support and service availability for their products globally.
Financially, Allison continues to show strong performance. In the first quarter of 2024, the company reported record net sales of $789 million, driven by robust demand across various markets and strategic price increases. Despite industry challenges, Allison has maintained a prudent balance sheet, focusing on a low-cost, flexible debt structure and continued capital returns to shareholders through share repurchases and increased dividends.
Allison's venture arm, Allison Ventures, further underscores their dedication to future growth and innovation by committing $10 million to EnerTech Capital, aiming to access and leverage emerging automotive technologies. This strategic investment aligns with Allison's broader efforts to enhance its innovation pipeline across commercial mobility and work solutions.
For more detailed information on Allison Transmission's products, services, and latest developments, visit allisontransmission.com.
The U.S. Army has selected Allison Transmission to modernize its M88A3 HERCULES Recovery Vehicle with the X1100TM-5B propulsion solution. This initiative involves over $37 million allocated for engineering, development, and testing through 2023. The transition to production is anticipated in early 2024, enhancing the recovery capability for the Army's heavy tracked vehicles. This collaboration underscores Allison's longstanding partnership with the Army, focusing on delivering advanced and reliable propulsion solutions since 1946.
Allison Transmission announced the integration of its eGen Power 100D electric axle into Emergency One's E1 EV0 fire engine, unveiled at Interschutz 2022 in Hanover, Germany. This marks the first all-electric pumping vehicle certified to BS EN1846 standards in the UK. The eGen Power 100D offers continuous output of 454 kW and peak output of 652 kW, enhancing efficiency, acceleration, and maneuverability for fire and rescue operations. The vehicle has already been sold to the Scottish Fire and Rescue Service, expected to be operational by early 2023.
Allison Transmission showcased its RDS-equipped F-Series trucks at a Ride & Drive event in Indianapolis, featuring new Class 6 FTR and Class 6/7 FVR models paired with Cummins B6.7 engines. Fleet customers praised the trucks' performance, noting improved acceleration, smooth gear shifting, and excellent maneuverability. The trucks are designed for enhanced cargo capacity with low cab forward designs, providing operational versatility. The F-Series is available at over 300 dealerships across the U.S. Allison Transmission stands as a leader in propulsion solutions for commercial vehicles.
Allison Transmission's 9832 Oil Field Series™ transmission has achieved outstanding recognition at China's Daqing Oilfield, known for its challenging extraction conditions. Over two years, the transmission has demonstrated reliability and efficiency, vital for large-scale shale oil fracturing projects. The system's high input power of 3,200hp and lightweight design enhance its effectiveness. Feedback from Daqing's Project Manager highlights significant performance benefits and reduced downtime, contributing to increased fleet profitability. This endorsement further solidifies Allison's position as a trusted provider in the energy sector.
Allison Transmission has partnered with GILLIG and Cummins to introduce its eGen Flex electric hybrid propulsion system in buses for the Indianapolis Public Transportation Corporation (IndyGo). These buses can operate in electric-only mode for up to 10 miles, enhancing fuel efficiency and reducing emissions. The eGen Flex offers a flexible solution that allows transit agencies to adopt electric capabilities while still utilizing a diesel engine. This innovation marks a significant step in IndyGo's mission to lower its carbon footprint and improve urban mobility.
The 2021 ESG Report by Allison Transmission highlights its commitment to sustainability through transparent data on environmental performance and social impacts. The company has expanded its electric vehicle product lineup, introducing two new e-Axle variants in 2021, and made significant investments in commercial vehicle technology, including a new Innovation Center. Innovations like FuelSense® 2.0 enhance fuel efficiency by up to 6%, promoting reduced emissions. The report emphasizes Allison's dedication to responsible corporate citizenship.
Allison Transmission (NYSE: ALSN) will support the U.S. Army's Common Tactical Truck (CTT) program, replacing over 7,000 heavy trucks with fuel-efficient vehicles. This initiative could generate over $150 million in revenue for Allison's defense sector. The CTT program aims for improved fuel efficiency, safety systems, and predictive maintenance, leveraging advancements from the commercial vehicle industry. Prototype testing is set for late 2023, with awards expected by 2025. Allison's FuelSense 2.0® technology aims for up to 6% fuel savings while maintaining performance.
Xos, Inc. has entered a strategic partnership with Allison Transmission to develop heavy-duty Class 7 and 8 commercial electric vehicles using Allison's eGen Power e-Axles. The initial e-Axle hardware is delivered for integration and testing, with further units expected throughout 2022. Xos aims to enhance its offerings for fleet owners by leveraging Allison's technology and service network, addressing the rising maintenance costs and emissions regulations in the electric vehicle market. This collaboration is expected to accelerate growth and improve operational efficiencies for both companies.
Allison Transmission (NYSE: ALSN) showcased its advanced propulsion technology at the 2022 Modern Day Marine Expo in Washington, D.C., from May 10-12. The company emphasizes its support for the U.S. Marine Corps by enhancing fuel efficiency in critical vehicles like the Joint Light Tactical Vehicle and Medium Tactical Vehicle Replacement. Innovations like FuelSense® 2.0 software contribute to fuel savings of up to 6%. This aligns with the Marine Corps' goal of improving operational efficiency, as noted by Lt. Gen. Edward Banta, who reported 10-15% efficiency improvements.
Allison Transmission (NYSE: ALSN) has announced the election of D. Scott Barbour to its Board of Directors, following the 2022 annual meeting of stockholders. Barbour is the CEO of Advanced Drainage Systems and brings extensive leadership experience in manufacturing. He will serve on the Audit and Compensation Committees, increasing the Board to ten members. His term expires at the 2023 annual meeting. Barbour’s expertise in operational improvement and strategic repositioning could enhance Allison’s focus on innovative vehicle propulsion solutions.
FAQ
What is the current stock price of ALLISON TRANSMISSION HOLDINGS (ALSN)?
What is the market cap of ALLISON TRANSMISSION HOLDINGS (ALSN)?
What does Allison Transmission Holdings, Inc. specialize in?
Where is Allison Transmission headquartered?
In how many countries does Allison Transmission operate?
What are some recent achievements of Allison Transmission?
How did Allison Transmission perform financially in the first quarter of 2024?
What is Allison Ventures and how does it contribute to Allison Transmission?
What is the significance of Allison’s eGen Flex® system?
Who is the current CEO of Allison Transmission?
What notable leadership change occurred in June 2024 at Allison Transmission?
What types of vehicles use Allison transmissions?
