Isuzu Motors Limited, Hino Motors, Ltd., and Toyota Motor Corporation today announced that they will form a new partnership in commercial vehicles with the aim of accelerate societal implementation and dissemination of CASE technologies and services, and to help address various difficulties facing the transportation industry as well as help achieve a carbon-neutral society. ‘CASE’ refers to new areas of Connected vehicles, Autonomous/Automated driving, Shared, and Electric.
The three companies intend to combine Toyota’s CASE technologies with the commercial vehicle foundations cultivated by Isuzu and Hino. Specifically, they plan to jointly work on the development of battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs), autonomous driving technologies, and electronic platforms centered on the domain of small commercial-purpose trucks.
Wide scope
While working together on BEVs and FCEVs to reduce vehicle costs, the three companies plan to advance infrastructure-coordinated societal implementation, such as by introducing FCEV trucks to hydrogen-based society demonstrations in Japan’s Fukushima Prefecture, and accelerate their dissemination initiatives.
In a joint press conference this afternoon, the leaders of Isuzu, Hino, and Toyota said they also plan to link their connected technology platforms to build a platform for commercial vehicles that can help solve customers’ problems. Through this platform, they intend to provide various logistics solutions that not only help improve commercial vehicle transport efficiencies but also contribute to reducing CO2 emissions.
To promote their partnership, Isuzu, Hino, and Toyota are establishing Commercial Japan Partnership Technologies Corporation, a company for planning CASE technologies and services for commercial vehicles based on discussions among its three parent companies.
Going forward, Isuzu, Hino, and Toyota intend to deepen their collaboration while openly considering cooperation with other like-minded partners.
Capital partnership
In conjunction with this new development, Isuzu and Toyota have agreed on a capital partnership. Through acquisition of 39 million shares of Isuzu common stock, Toyota will hold a 4.6% stake in Isuzu, while Isuzu plans to acquire Toyota shares of the same value through a market purchase.
Hino Motors a subsidiary of Toyota Motor Corporation and one of 16 major companies of the Toyota Group. The 78-year old company originally made passenger cars as well but focussed on commercial vehicles after being acquired by Toyota in 1967.
