Allison Transmission Holdings Inc. (NYSE: ALSN) and China National Heavy Duty Truck Group Corp. Ltd. (CNHTC) today announced an agreement to explore a strategic partnership to optimize fully automatic transmission technologies for the Chinese market. Executives from both companies signed a cooperation agreement during a ceremony at Auto Shanghai 2017.
“The heavy-duty truck market in China represents a major growth opportunity for Allison and we’re pleased to jointly investigate ways to partner with CNHTC in this endeavor,” said Chairman and CEO Lawrence E. Dewey of Allison Transmission. “Their leadership and industry expertise are incredible assets to this collaboration.”
CNHTC was founded in 1935 as China’s first heavy-duty truck manufacturer. The company is headquartered in Jinan, Shandong province. Today, CNHTC specializes in the production of vehicles for a variety of applications, including construction, distribution, emergency and mining.
“We believe fully automatic transmissions are the major development direction in many heavy-duty truck applications in China,” said Chairman Ma Chunji of CNHTC. “After evaluating all available torque converter automatic transmission technologies, we look forward to working with Allison and introducing their product to our customers. They are an industry leader known for impeccable quality and lifecycle value.”
Allison Transmission is the world’s largest manufacturer of commercial-duty automatic transmissions and is a leader in hybrid-propulsion systems. Allison Automatics 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 and has approximately 1,400 independent distributor and dealer locations worldwide.
Allison transmissions use a torque converter for Continuous Power Technology™ to smoothly multiply engine torque, delivering more power to the wheels. By multiplying engine power, drivers get increased performance, faster acceleration and greater operational flexibility. Manual and automated manual transmissions (AMTs) interrupt power with every shift. Allison transmissions maintain power to the wheels at all times for more productivity, better fuel economy and greater driver comfort and safety. Allison Automatics are globally recognized for their quality and reliability resulting in a greater overall economic value for customers.
Allison and CNHTC will focus on servicing the Chinese market while also exploring other opportunities. In addition to China, CNHTC has a strong presence in South America and has exported products to more than 90 countries overall. Similarly, Allison transmissions are used in more than 100 countries.