The Japanese multinational automotive manufacturer Toyota, is partnering with Hino ( Toyota subsidiary) and Isuzu Motors Limited to develop small sized electric and fuel-cell vehicle
Japan’s top automaker Toyota and truck-maker Isuzu had mentioned that it will hold a 4.6 percent stake in each other, the three companies said in a joint statement.
The three companies said they will set up a joint venture named Commercial Japan Partnership technologies in April to co-develop electric and fuel-cell trucks.
The automaker Toyota which makes Prius hybrid, Camry sedan and Lexus luxury models sold off a 5.9 per cent stake in Isuzu in 2018 which it had bought in 2006. Isuzu also had a capital tie-up with General Motors Co. which is one of the biggest automaker in the U.S.
Akio Toyoda, The president of Toyota Motor Corporation said in a statement
“By creating this 3-company collaboration, our aim is to streamline the logistics industry in Japan and beyond while moving towards carbon neutrality and developing next-generation C.A.S.E. strategies which include EV, connected and autonomous technologies,”
“It is true that Isuzu and Hino are rivals in the truck business,”
“but after I invited them to join our collaboration, they understood that working together was the best plan of action to improve the logistics industry.”
One of the main motive of the three companies is to reduce emissions by building hydrogen infrastructure and to also help solve shortage of drivers by sharing information online.
Hinu is Toyota’s truck division and it has been Isuzu’s biggest rival
Yoshio Shimo, The president of Hino said
“The new framework is a certain step forward helping solve society’s challenges,”
Isuzu president, Masanori Katayama said that “companies must take up innovation if we hope to build a better society.”
