Benzinga | Sep 1, 2021 01:23PM EDT

Allison Transmission Partners With Hino Trucks For BEV Trucks

* Allison Transmission Holdings Inc (NYSE:ALSN) has been selected by Hino Trucks, a Toyota Motor Corp (NYSE:TM) company, as its e-Axle development partner for Class 6, 7, and 8 Battery Electric Vehicle (BEV) trucks. The financial terms of the agreement were not disclosed.

* The two companies have signed the framework behind a strategic Joint Collaboration Agreement (JCA) that builds on Allison and Hino's long-standing partnership in the conventional transmission space.

* Under the agreement, Hino will integrate Allison's eGen Power 100D e-Axle into their vehicles, with low volume production beginning in early 2023.

* As part of the work undertaken with Hino and other development partner-customers, Allison has launched a new e-Axle product - the eGen Power 100S.

* Hino will be the first global OEM to integrate the eGen Power 100S.

* Price Action: ALSN shares are trading higher by 2.97% at $38.08 on the last check Wednesday.