Troy’s AxleTech, which offers off-highway and specialty vehicle drivetrain systems and components, has sold its electric vehicle systems division to Allison Transmission in Indiana, effective immediately.
The deal was finalized April 16 and consists of assets, intellectual property, products, and people involved in AxleTech’s advanced integrated electrification solutions, or 5 percent of the company’s global employees.
AxleTech’s business in the commercial off-highway and defense industries, including certain non-integrated electrification solutions for off-highway and defense industries, aftermarket, and remanufacturing, will continue to operate under the ownership of The Carlyle Group.
“Several years ago, we established our electric vehicle systems group to develop electric vehicle solutions for on- and off-highway applications as a complement to our 100-year-old off-highway heritage,” says Bill Gryzenia, CEO of AxleTech. “Today, thanks to the incredible job done by everyone involved, it’s time to let the advanced integrated electrification solutions enter their next phase of development and commercialization with Allison Transmission. This agreement allows AxleTech to focus on what we do best – traditional powertrain and non-integrated electric solutions for the off-highway and defense industries.”
Allison Transmission creates fully automatic transmissions for medium- and heavy-duty commercial vehicles as well as hybrid-propulsion systems for city buses. It was founded in 1915 and has about 2,900 employees worldwide. Regional headquarters are located in the Netherlands, China, and Brazil, with manufacturing facilities in the U.S., Hungary, and India.
“The advanced integrated electric vehicle systems will fit well within our electrification strategy and support our vision of being the global leader in commercial-duty electric propulsion solutions,” says David S. Graziosi, president and CEO of Allison Transmission.
AxleTech was founded in 1919 and has nearly 800 employees worldwide at locations in the U.S., France, Brazil, India, and China.