Allison Transmission Signs Strategic Collaboration With Jing-Jin Electric

Allison Transmission Holdings Inc ALSN has signed a partnership agreement with Jing-Jin Electric (JJE), a Chinese vehicle motor and power system maker, to develop electrified powertrain solutions for global commercial vehicles.
The strategic collaboration partnership will allow both parties to benefit from a global manufacturing presence and service networks to support customers in local markets.
In addition, Allison has committed to providing debt financing supporting JJE North America's commercial vehicle electric drive product development, testing, and manufacturing acceleration efforts.
Price Action: ALSN shares closed lower by 0.11% at $35.25 on Tuesday.