Made in Indiana: Transmissions by Allison Transmission Holdings Inc.
Allison is Indiana’s 18th largest public company in terms of annual revenue, reporting $3 billion in sales and $672 million in profit for 2023.
Automotive
-
IBJ Podcast: Former drag racer Morgan Lucas now in driver’s seat at Lucas Oil Products
In this week’s edition of the IBJ Podcast, Lucas recounts what it was like growing up with hard-charging entrepreneurs as parents, the value of sponsoring Lucas Oil Stadium, and the decision to relocate the firm’s HQ from California to Indianapolis.
Read More -
IBJ Podcast: Jeff Wood’s white-knuckle ride from F-16 pilot to head of Tom Wood Automotive
It’s been more than a dozen years since Jeff Wood became company president, and he has used that time to diversify Tom Wood Automotive Group—often following his own interests to see where they lead.
Read More -
Battery maker seeks tax break to build potentially massive plant in Indiana
A joint venture between General Motors Co. and LG Energy Solution has filed a tax abatement application for a facility in New Carlisle that—based on similar projects elsewhere—could bring more than $2 billion in investment and more than 1,000 jobs to northern Indiana.
Read More -
Ivy Tech breaks ground on $14M automotive tech center in International Marketplace
The center will move operations from a building it has operated in for several years at 1331 E. Washington St.
Read More
Articles
Biden administration awards $325M to upgrade Indiana plants for EV components production
The grants to Cummins and Stellantis are among $1.7 billion in funding the Energy Department announced Thursday morning.
After years of inflation, Americans finally seeing price slowdown on vehicles
Though inventories of new autos are still well below the roughly 4 million level that prevailed before the pandemic, analysts and dealers say the rising availability suggests that 2024 will be the most affordable year of the past five in which to buy a new car or truck.
Budget leaders approve $120M to attract unannounced $3.2B project
The mystery project involves a company in the “advanced technology automotive components” industry and would be located somewhere in north-central Indiana, according to the IEDC.
Cummins announces $153M plant acquisition from Faurecia
Cummins plans to acquire two manufacturing sites, one in its hometown of Columbus, Indiana, from France-based Faurecia.
GM offers buyouts to most U.S. salaried workers to trim costs
The decision to offer buyouts comes at an uncertain time for the auto industry, which is in the midst of a transition from internal combustion to electric vehicles. GM has a goal of selling only electric passenger vehicles by 2035.
Auto enthusiasts pay $200K+ for customizable condos for their cars
The desire to connect with people who are passionate about anything with wheels and a motor led entrepreneur Jay Farmer to open Motor District Garage Condos in Westfield.
Ram trucks recalled to tighten loose windshield wiper nuts
The recall covers certain Ram 2500 and 3500 pickups and some 3500, 4500 and 5500 chassis cabs, all from the 2019 and 2020 model years.
Automotive tech marketing firm lands $4.5M in growth capital
Entrepreneur and private investor Rick Gibbs, who co-founded Dealer.com in 1998 and sold it Dealertrack for a billion dollars in 2014, has joined Driven Data as chairman as part of the investment.
Korean auto supplier plans to expand local presence with Franklin facility
Daechang, which makes seating components for Kia, Hyundai and Subaru, established its North American headquarters in Indianapolis in 2017. The Franklin facility would be its second local site.
Indy, Fishers will be test sites for contactless deliveries, automated cars
Three pilot programs planned for this year are more than just robo-taxi and delivery-bot science experiments. They’re dry runs for the real thing—possibly coming soon.
Mitsubishi to close 82-worker climate control business in Franklin
Mitsubishi Heavy Industries Climate Control Inc., which has operated in Franklin since the 1990s, will cease production next month. Mitsubishi has a turbocharger business in the same facility that will continue to operate.
Elkhart-based RV maker acquires competitor for $300M
Thor Industries said the Tiffin Group would operate as a stand-alone division of the corporation, and the Tiffin family would continue to run it.
Firm planning to close 100-worker auto parts factory
Eaton Corp. has notified state officials that it intends to begin layoffs at the Auburn factory in February.
Car detailing specialty chain opening first Indiana store
Detail Garage, a California-based retail chain, will open a franchised store in Plainfield on Friday. It’s the first in Indiana for the fast-growing retail arm of Chemical Guys, which makes a line of car detailing products.
Westgate car dealership to be sold to Hoosier dealer group
The Plainfield business is bucking the trend of local dealerships getting scooped up by large national conglomerates.
Asbury Automotive furloughs 215 employees at local car dealerships
Asbury, which has eight Indianapolis-area dealerships, said it’s furloughing 2,300 employees across its 10-state operating footprint due to a sharp drop-off in sales and service revenue.
Gas is getting even cheaper, but motorists have nowhere to go
Demand is weak because so many Americans are under shelter-in-place rules and businesses have been closed because of the coronavirus outbreak.
Greenfield auto parts plant lays off 336 employees in temporary closure
BWI Group—also known as BeijingWest Industries Co.—said the layoffs are necessary because Gov. Eric Holcomb ordered all non-essential businesses closed and because the Ford plants it supplies have shut down their production lines.
Startup’s solution to back pain gaining traction with auto industry
Comfort Motion Global has five patents on a software-based system that uses algorithms to make periodic micro adjustments to automobile seats.