Allison Transmission (NYSE: ALSN), an Indianapolis, IN-based designer and manufacturer of conventional and electrified vehicle propulsion solutions and a global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, is launching Allison Ventures.
Allison Ventures will strategically invest in, and partner with, startup and growth-stage companies to foster advancements in commercial-duty mobility and work solutions. Initial areas of interest will include new technologies and business model innovations related to connectivity, digitization, automation, sustainability, electrification, manufacturing and operations.
Allison Ventures is not a separate investment fund but embedded within Allison’s corporate team.
Commenting on the launch, Todd Bradford, Vice President, Strategy, Business and Corporate Development, Allison Transmission, said: “Allison Ventures will allow us to increase our innovation pipeline in support of industry technology advancement across commercial-duty mobility and work solutions to further our mission to Improve the Way the World Works.“
Founded in 1915, Allison Transmission is a designer and manufacturer of propulsion solutions for commercial and defense vehicles and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions that Improve the Way the World Works. The company’s products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). The company has a presence in more than 150 countries, with regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has approximately 1,600 independent distributor and dealer locations worldwide.