Allison Transmission
Canvas Category OEM : Automotive
Allison Transmission is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide.
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Niron Magnetics Secures Funding from Samsung Ventures, Allison Transmission and Magna to Accelerate Production of Rare Earth-Free Magnets
Niron Magnetics, the company pioneering the world’s first high-performance, rare earth-free permanent magnets, announced it has received $25 million in new strategic funding. This round was led by Samsung Ventures, which has the investment mandate to closely track the strategic priorities of leading consumer electronics manufacturer Samsung and encompasses investments in consumer electronics, semiconductors, telecommunications, and more. Allison Ventures, the venture capital arm of Allison Transmission, leading designer and manufacturer of vehicle propulsion solutions, was also part of this funding round, along with one of the world’s largest automotive suppliers, Magna. This investment will strengthen Niron’s ability to expand its production facilities and scale manufacturing capacity for exclusive customer programs and initial sales of the Clean Earth Magnet.
With this new funding, Niron will expand its pilot production facilities, enhancing its ability to serve diverse clientele and support customer prototyping programs. The company will also scale up manufacturing capacity to meet growing demand and accelerate research and development efforts to drive continuous improvement in performance and efficiency.