President Barack Obama is making an other trip around the United States to promote fuel-efficient vehicles. This Friday, Obama will head down to Indianapolis to visit Allison Transmission Holdings Inc. Obama will travel to the facilities of Allison Transmission Holdings Inc. “to continue discussing his long-term plan to protect consumers against rising oil prices and decrease oil imports while ensuring a cleaner, safer, and more secure energy future.”
Indianapolis based Allison Transmission Holdings is the largest manufacturer of fully automatic transmission for medium and heavy-duty commercial vehicles along with tactical military vehicles and hybrid-propulsion systems.
Allison announced the dedication of a new hybrid facility in June 2010. Once that plant is fully operational, it will have the capacity to build 20,000 commercial-duty hybrid propulsion systems on an annual basis.
Allison filed for an IPO in March to raise $750 million. In 2010, the company reported a $29.6 million profit.
– By: Omar Rana
Source: Detroit News
Image Source: Pete Souza