The company announced its 2024 financial report, with record full-year sales of USD 3.2 billion (2023: USD 3 billion), which increased the Earnings Per Share (EPS) to a record USD 8.31, up 12 percent from 2023. 2024 net income was USD 731 million, compared with 2023 figures of USD 673 million.

The key reason behind this warranty extension is to increase the competitiveness of its products on the back of a projected procurement of an estimated 2,000 additional  waste collection vehicles in the UK over the next three years ahead of new UK  legislation.

Allison announced an “uprate” to its B400 and B3400 xFE fully automatic transmissions, including retarder models. The B400 and B3400 xFE transmissions have been upgraded to support higher power and torque capacities.

Allison has invested an undisclosed sum in Agtonomy, a California-based company specialising in AI-driven software and services that enable industrial machinery and vehicles to operate autonomously.

Set to be launched in 2027, the system integrates the Cummins B-Series engine with Allison's eGen Flex electric hybrid propulsion technology, meeting the EPA's Phase 3 greenhouse gas emissions standards.

This multi-year investment, said to exceed USD100m, aims to double the current manufacturing footprint.

Allison claims the 60,000 square-foot facility is the only one of its kind in the Midwest allowing Cummins to thoroughly test engine performance, durability and emissions across a range of conditions.

Allison launched the eGen Power 85S for the electric truck market, the latest addition to its range of fully electric CV axles. Furthermore, the company introduced its new 9-speed fully automatic transmission, designed for commercial vehicles operating in stop-and-go conditions, offering improved fuel economy, enhanced performance, and lower maintenance costs.

The companies have successfully completed field tests of the new Cummins X15N 15-litre natural gas engine in combination with Allison’s 4000 Series fully automatic transmission. The results showed significant improvements in fuel efficiency, engine braking, and power during shifting, making the combination ideal for heavy-duty operations.

Allison states that many Chinese-built buses are now equipped with its Torqmatic series, a range of fully automatic transmissions for engine ratings ranging from 172 kilowatts (230hp) to 283 (380hp), specifically designed for suburban buses and tour coaches.

The ‘Novo Volt’ is a coach measuring approximately 7.3 metres in length and carrying up to 29 passengers.

Allison has invested USD 10 million in fellow American VC firm, EnerTech Capital, which focus on helping develop companies that specialise in mobility technologies. A strategic move by Allison, which aims to leverage these technologies (electrification, connectivity, autonomy and digitalisation) and integrate them into its own business.