“This long-term partnership will establish both companies’ leading position in this new electric drive space. “We are very excited to collaborate with the global leader of the marine industry to jointly advance the electrification of marine propulsion,” said Scott Taylor, general manager of JJE North America. ![]() “JJE has a rich history of working with established companies within the automotive industry globally, and we are looking forward to this new partnership that will continue to strengthen Mercury’s leadership position in electric propulsion.” “We are excited to engage with JJE as we co-develop and produce the next evolution of high voltage propulsion systems for marine and broaden our ACES strategy globally,” said Perissa Bailey, Mercury Marine vice president of e-Solutions. The collaboration will enable Mercury to expand its portfolio of electric propulsion solutions – advancing to higher power electric systems. ![]() This partnership will enhance Mercury’s stated goal of leading the marine industry in both internal combustion propulsion and electrification and will broaden JJE’s goal to be a diversified electric powertrain supplier across several verticals. “The inclusion of Allison as a strategic investor in our IPO demonstrates our confidence in the combined capabilities of the strategic partnership to accelerate global electric vehicle development and offer innovative and reliable electrified propulsion solutions to commercial vehicle manufacturers around the world.” said Ping Yu, Chairman and Chief Executive Officer of Jing-Jin Electric.FOND DU LAC, Wis., (GLOBE NEWSWIRE) - Mercury Marine, a division of Brunswick Corporation (NYSE: BC), has entered into an agreement with JJE, an electrified propulsion leader in components, assemblies, and systems for global automotive applications. “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 Chief Executive Officer of Allison Transmission. 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 our global customers and end users. 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.Īllison’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. Allison Transmission, a leading designer and manufacturer of conventional, electric hybrid and fully electric vehicle propulsion solutions, has announced that it will participate in the initial public offering (IPO) of Jing-Jin Electric (JJE), a leader in electric motor, inverter, and integrated electrified propulsion systems within the largest electric vehicle market in the world.Īs 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 (approximately US$ 42 million).
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