Allison Transmission makes equity investment in Jing-Jin Electric
By Will Hall - 25th October 2021
USA / China – Indianapolis-based propulsions specialist Allison Transmission Inc. has announced its participation in the initial public offering (IPO) of electric motor and drive component manufacturer Jing-Jin Electric Technologies Co Ltd, based in Beijing, China.
As part of JJE’s IPO at The Science and Technology Innovation (STAR) Board on the Shanghai Stock Exchange, Allison made an investment of approximately USD42 million in the company. Jing-Jin has reportedly raised a total of USD320 million from the listing. The investment follows the recently announced strategic partnership between the two companies to jointly develop electric propulsion systems and provide debt financing for Jing-Jin.
