Allison Transmission Partners with Chinese Bus OEMs to Drive Export Growth

SHANGHAI, December 22, 2022 – Allison Transmission, a leading designer and manufacturer of conventional, electric hybrid and fully electric vehicle propulsion solutions, and the world’s largest manufacturer of fully automatic transmissions for medium and heavy commercial vehicles, has experienced significant growth through partnerships with Chinese OEMs exporting buses from China to markets throughout the Americas, Asia and the Middle East.

Major Chinese bus manufacturers, including Yutong, Ankai, Xiamen Golden Dragon, King Long, BCI and Zhongtong, have partnered with Allison in the past year to deliver significant volume for public transit buses and coaches to export markets including Canada, Mexico, the Dominican Republic, Chile, Australia, New Zealand, Vietnam, Armenia, Qatar, Saudi Arabia, Kazakhstan and Pakistan.

Zhengzhou Yutong Bus Co., Ltd., the world’s largest bus manufacturer, has been partnering with Allison since 2002. The company ships coaches, school and company shuttle buses to Australia equipped with Allison Torqmatic® Series—T2100, T280R and T390R fully automatic transmissions—to meet different vehicle capacity and customer needs with engine ratings ranging from 172 to 283 kilowatts (kW). Anhui Ankai Automobile Co., Ltd., another prominent Chinese bus company, recently won an award to supply a state-owned public transit company in Mexico with compressed natural gas (CNG) buses equipped with Allison T280R automatic transmissions.

“Allison Transmission is a global leader in bus transmissions, and we are excited that our partnership with major Chinese bus OEMs are driving their continued success in the export markets. Wherever the destination, Allison Transmission can provide localized and best-in-class service and support,” said Brian Geiselhart, Executive Director, Asia Pacific Sales, Allison Transmission. “Allison's brand promise is to improve customer operational efficiency and provide the world's most reliable and valuable vehicle propulsion solutions. Customer service is critical to our success. Allison-equipped city buses deliver the best combination of reliability, fuel efficiency, performance and value.”

Allison’s Torqmatic Series is a line of fully automatic transmissions specifically designed for the unique demands of city and suburban buses and tour coaches with engine ratings up to 410 kW (550 hp). With up to six forward speeds and one reverse, the Torqmatic Series is designed for easy, efficient operation.

To learn more about Allison’s Torqmatic Series automatic transmissions, please visit https://www.allisontransmission.com/en-gb/transmissions/models/torqmatic-series

22 Dec, 2022

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This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding future financial results. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plans," "project," "anticipate," "believe," "estimate," "predict," "intend," "forecast," "could," "potential," "continue" or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. defense spending; general economic and industry conditions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; our intention to pay dividends and repurchase shares of our common stock; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.

SOURCE Allison Transmission Holdings Inc.