Allison Transmission Expands its Footprint in Vietnam with New Dealership Agreement with MIFU Joint Stock Company

HO CHI MINH CITY, Vietnam, September 18, 2024 - Allison Transmission, a global leader in manufacturing conventional, electric hybrid and fully electric vehicle propulsion solutions and the largest producer of fully automatic transmissions for medium- and heavy-duty commercial vehicles, is pleased to announce the appointment of MIFU Joint Stock Company as an Allison Authorized Dealer in Vietnam. This partnership reflects Allison's commitment to strengthening its presence in the Southeast Asian market and delivering exceptional service to its customers in the region.

MIFU, established in 2019, has quickly become a trusted name in the supply of machinery, equipment and services for the transportation and port industries in Vietnam. As part of this new dealership agreement, MIFU will focus on port tractors at seaports across the country, providing overhaul maintenance and original spare parts for Allison's 1000-4000 Series transmissions. Allison 3000 Series™ in particular will be a key highlight of this partnership, catering to the specific needs of Vietnam's port industry.

Vietnam has launched an ambitious plan to modernize its seaport system, aiming to increase cargo capacity to 1.42 billion tons annually by 2030 and position itself as a major shipping hub in Southeast Asia. Amid this growth, MIFU, a leading provider of port equipment in Vietnam, is well-placed in the expanding market. As the distributor of Terberg yard trucks, which hold a 70% market share in the country, MIFU supplies tractors equipped with Cummins engines and Allison 3000 Series automatic transmissions, known for their durability, reliability and low maintenance needs, crucial advantages for the rigorous demands of 24/7 port operations.

"This strategic collaboration with Allison Transmission marks a significant milestone for MIFU as we expand our market presence and elevate the level of support we offer our customers. With Allison Transmission's industry-leading technology and expertise, we are well-positioned to deliver enhanced service quality and competitive solutions that meet the rigorous demands of our clients," said Nguyen The Tho, Director of MIFU.

To further cement its leadership in the industry, MIFU is set to finalize a principal contract with Saigon New Port and Vietnam Maritime Corporation, focusing on the supply and support of Allison automatic transmissions and Terberg trucks, reinforcing its commitment to supporting the evolving needs of Vietnam's rapidly growing port sector.

"Given the rapid growth of the port business in Vietnam, and with the major business focus of Allison's market in Vietnam concentrated in port tractors, our partnership with MIFU is perfectly positioned to support and expand our presence in the region. MIFU's strong experience and excellent relationships with Vietnam's ports will be pivotal as we look to grow our services and explore new opportunities in the future," said Sathit Riyatanon, Director of Customer Support and Channel Development Asia Pacific at Allison Transmission.

As part of their commitment to excellence, MIFU will also invest in a new workshop adhering to Allison's quality standards and provide comprehensive training programs for their staff. This ensures that customers in Vietnam will benefit from the highest levels of service and support.

Allison's 3000 Series is designed for medium-duty commercial vehicles and is engineered to adapt and operate efficiently in a variety of applications. The 3000 Series is built to make medium-duty vehicles more fuel-efficient and easier to operate.

To learn more about Allison's 3000 Seriesautomatic transmissions, please visit allisontransmission.com.