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Allison's (ALSN) eGen Flex to be Offered by New Flyer in 2022

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Allison Transmission Holdings, Inc. ALSN recently announced that its next-generation electric hybrid propulsion solution, eGen Flex, will be offered by New Flyer Industries Canada ULC and New Flyer of America Inc. in early 2022. New Flyer is North America’s largest transit bus manufacturer and a subsidiary of NFI Group Inc., one of the world’s leading independent global bus manufacturers.

The eGen Flex system has the capacity of a full electric drive for up to 10 miles and can do away with engine emissions and noise generated at the time of boarding and de-boarding of passengers in congested areas as well as in zero-emission demarcated zones, thus ensuring a calm surrounding. It is also fuel-economizing by up to 25% versus a conventional clean diesel bus, and is empowered to operate electric accessories at optimal efficiency with clean electric power. This, in turn, reduces dependency on fossil fuels and carbon footprint while delivering increased uptime. The framework also offers pioneering features that provides fully electric propulsion when customers need it, without the added prerequisites of full electrification. The eGen Flex ensures a hassle-free experience for transit fleets in the case of a need for longer routes and unplanned congestion that arise from them, or an inability to recharge due to power challenges. The solutions will be offered in multiple model configurations based on requirements. Since 2003, Allison has successfully delivered more than 9,000 electric hybrid propulsion systems globally, saving more than 305 million gallons of fuel by ensuring 2.6 billion miles and bringing down the carbon dioxide footprint by 3.4 million metric tons.

Partner company New Flyer noted that the joint deal will build a foundation for a sustainable transit system and improve some of the environmental parameters communities across North America.

Allison Transmission Holdings, Inc., a manufacturer of fully-automatic transmissions for medium and heavy-duty commercial and heavy-tactical U.S. defense vehicles, is the largest producer of fully-automatic transmissions, holding a leading position in several niche markets. The firm also offers electric hybrid and fully electric propulsion systems. Shares of the company have risen 4.4% over a year against the industry’s 17.9% decline.

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Allison — which competes with players like American Axle AXL, Magna International MGA, and Meritor, Inc. MTOR — currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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American Axle & Manufacturing Holdings, Inc. (AXL) : Free Stock Analysis Report

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