Allison Transmission Makes Equity Investment in Jing-Jin Electric Technologies

Power generation company Allison Transmission announced it will participate in the initial public offering (IPO) of China’s Jing-Jin Electric (JJE), a leader in electric motor, inverter and integrated electrified propulsion systems within the largest electric vehicle market in the world.

As part of JJE’s upcoming IPO at The Science and Technology Innovation (STAR) Board on the Shanghai Stock Exchange, Allison will make a strategic investment of ¥264 million CNY (approx. $42 million USD). Along with Allison, FAW Group Corporation of Changchun, Jilin, China, will also participate as a strategic investor in JJE’s IPO, according to the IPO announcement from the Shanghai Stock Exchange.

Allison’s investment in JJE follows the recently announced strategic partnership between the two companies, and an earlier debt financing commitment by Allison that will directly support JJE’s North America commercial electric product development, testing and manufacturing efforts. These investments represent the shared belief that combining Allison’s electrified products, brand, channel, technical expertise and product robustness with JJE’s broad portfolio of electric motors, inverters and integrated systems will enable the strategic partnership to offer a differentiated value proposition to its global customers and end users.

“This investment, in support of the Allison and JJE collaboration, is an exciting development that highlights Allison’s continued commitment to, and investments in, the commercial electric vehicle space,” said David Graziosi, chairman and CEO of Allison Transmission. “In further support of the relationship, Allison is proud to participate in JJE’s initial public offering as a strategic investor.”