Volkswagen Truck & Bus has signed a framework agreement for a strategic cooperation with Toyota’s utility subsidiary Hino Motors. Both companies aim to include hybrid and electric systems in their cooperation options.
Specifically, the automakers are considering a close cooperation in the areas of logistics and traffic research regarding current and future technologies, as well as the acquisition of parts and suppliers.
Hino is a utility vehicle manufacturer with a strong presence in Asia and the Japanese market, while Volkswagen Truck & Bus is more known in Europe and Brazil through its subsidiaries MAN, Scania, Volkswagen Caminhões e Ônibus and RIO. By leveraging the cooperation, both companies plan to expand their positions in their local markets.
In order to analyze cooperation possibilities, the companies have set up an Alliance Board, where the chief executives and other senior management members will discuss the next practical moves. “It will also be a strong tie-up at times of new challenges in the field of transportation due to the rapid growth of e-commerce,” said Yoshio Shimo, president of Hino Motors. Andreas Renschler, CEO of VW Truck & Bus and board member of Volkswagen AG, added: “It is an excellent fit in terms of regional footprints and products, but also concerning common ideas on how to shape the future of transportation together.”
The German manufacturer will add to their existing portfolio of strategic partnerships with the move, including partnerships with Navistar in North America and Sinotruk in China. In October, VW Truck & Bus also announced that unified electric powertrain would be used for modular construction of the delivery trucks and city buses under the VW Truck & Bus banner.