Volkswagen Truck & Bus and Hino have signed a cooperation deal that could potentially save the two major manufacturers big dollars.
The cooperation between the Japanese and German heavy vehicle manufacturers has been described as a long-term strategic partnership that will deliver outcomes for customers.
The agreement will aim to “further explore each other’s capabilities to cooperate in logistics and traffic solution research, existing and new technologies as well as in procurement.”
According to Hino‘s announcement of the partnership, “the evaluation of technology cooperation will focus on conventional powertrains, hybrid and electric powertrains, as well as connectivity and autonomous driving systems.
“Both partners aim to enhance their respective market positions in the global transportation business and will jointly develop innovative technologies to offer customers the highest value. “
The two companies have set up a Joint Alliance Board to discuss the direction of the partnership.
According to Hino, the board will pursue a “pragmatic approach with a lean organization and balanced rights for both companies that remain independent.”
“This agreement was made possible because Hino Motors and Volkswagen Truck & Bus respect each other and share the same aspiration to offer customers the highest value,” Yoshio Shimo, president and CEO of Hino Motors, said of the agreement.
“We are delighted to enter into the agreement with Hino Motors as we are teaming up with one of the leading truck and bus companies, whose presence is especially strong in Asia.
“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 cooperation with Hino Motors will also contribute to our strategy to become Global Champion in the transportation industry by providing the highest value to our customers.”
We will keep you updated as further details come to hand.