Emart Yeoju Logistics Center Chooses Hyundai Mighty Equipped with Allison Transmission

CBK plans to purchase an Allison-equipped Hyundai Mighty following its positive experience with a 2.5-ton Mighty truck purchased in 2021.

SEOUL, Korea, July 10, 2023 – Allison Transmission, a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, today announced that CBK, a Yeoju-based logistics company, has been operating a Hyundai Mighty truck equipped with an Allison 1000 Series™ transmission since April 2021 and plans to purchase more Hyundai Mighty trucks in the future as the company is very satisfied with Allison Automatics.

"Vehicle and gas prices have increased significantly in recent years, and automatic trucks are considered optimized for the logistics industry due to their low maintenance cost," said Sungbae Kim, President, CBK.

CBK delivers goods handled by Emart Logistics Center nationwide. Emart is Korea’s largest retailer and discount store chain. Kim delivers fresh food from EMart Yeoju Logistics Center to metropolitan areas including Seoul. Currently, CBK operates a total of 70 Allison-equipped Mighty nationwide, four of which are used for the Emart Yeoju Logistics Center.

"I deliver fresh food from the Yeoju Logistics Center to the Gangnam area of Seoul. On average, I drive about 320 kilometers a day from early morning to late evening," said Kim. "I feel very comfortable, because I don’t have to shift gears or use a clutch when driving a truck equipped with an Allison fully automatic transmission."

"Driving an automatic truck is like driving a passenger car. The gearshifts are very smooth, the ride is comfortable, and the risk of accidents is low as long as I keep my eyes on the road,” said Kim. “I rarely feel tired even though I drive back and forth between Yeoju and Seoul every day. Compared to a manual truck, an automatic truck is much better."

Currently, CBK plans to increase its number of Hyundai Mighty vehicles equipped with Allison fully automatic transmissions, as the company has been impressed with the driving comfort, economy, durability, productivity and acceleration of Allison Automatics.

Truck drivers in the logistics industry often drive on narrow roads and steep inclines in rural areas. Vehicles with manual or automated transmissions often experience a loss of power when going up or down steep grades, which can be extremely dangerous. However, with an Allison fully automatic transmission, there is no power interruption during shift changes.

"Pickup and delivery truck customers who value affordability and durability are increasingly turning to Allison Automatics, which have a global reputation for quality, reliability and durability," said Kyoungmee Lee, Regional Director of Allison Transmission Korea. "Allison Transmission will continue to strive to help truck drivers across the country succeed in their businesses."

10 Jul, 2023

Back

Allison Transmission (NYSE: ALSN) 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 approximately 1,600 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Legal

This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding future financial results. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plans," "project," "anticipate," "believe," "estimate," "predict," "intend," "forecast," "could," "potential," "continue" or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. defense spending; general economic and industry conditions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; our intention to pay dividends and repurchase shares of our common stock; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.

SOURCE Allison Transmission Holdings Inc.