AxleTech sold its Electric Vehicle System division to Allison Transmission for $123m.

AxleTech, the world's premier provider of off-highway and specialty vehicle drivetrain systems and components, sold its Electric Vehicle System division to Allison Transmission, an American manufacturer of commercial duty automatic transmissions and hybrid propulsion systems, for $123m. “The advanced integrated electric vehicle systems will fit well within our electrification strategy and support our vision of being the global leader in commercial-duty electric propulsion solutions,” said David S. Graziosi, Allison Transmission President and CEO.