Tokyo, Japan – Isuzu Motors Ltd., Hino Motors Ltd., and Toyota Motor Corp. have agreed on a new partnership in commercial vehicles. The three companies intend to combine Toyota's connected, autonomous, shared, electric (CASE) technologies with the commercial vehicle foundations cultivated by Isuzu and Hino.
Hiroki Nakajima, president of Toyota’s in-house commercial vehicle group, will lead the new venture that expects to begin operating in April.
The companies plan develop 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. They also hope to advance infrastructure-coordinated societal implementation, such as by introducing FCEV trucks to hydrogen-based society demonstrations in Japan's Fukushima Prefecture.
Isuzu, Hino, and Toyota plan to link connected technology platforms to build a platform for commercial vehicles to provide various logistics solutions that improve commercial vehicle transport efficiencies and reduce CO2 emissions.
The venture, called Commercial Japan Partnership Technologies Corp., could draw deeper ties between the three vehicle makers or invite other companies to join
Toyota will acquire 39 million shares of Isuzu common stock worth about $394 million, giving it 4.6% ownership of Isuzu. Isuzu will buy an equal amount of Toyota stock. Such cross-ownership agreements are common between vehicle partners and suppliers in Japan.