Toyota and Isuzu to form capital alliance with Hino Motors to accelerate electrification, etc.

Toyota Motor Corporation and Isuzu Motors Limited, a truck manufacturer, have decided to form a capital alliance by mutually acquiring each other's shares. The three companies, including Hino Motors, a member of the Toyota Group, aim to accelerate the spread of electric vehicles and fuel cell vehicles that run on hydrogen, with a focus on light trucks.

According to the announcement, Toyota will acquire an approximate 5% stake in Isuzu for 42.8 billion yen, and Isuzu will also acquire an equal amount of Toyota shares to form a capital alliance.

Toyota, Isuzu, and Hino Motors, a truck manufacturer in the Toyota Group, will work together to accelerate the spread of "CASE" technologies such as connected vehicles, automated driving, and electrification, as well as to contribute to the realization of a decarbonized society.

Specifically, the three companies will work on the development of EVs (electric vehicles) and FCVs (fuel cell vehicles) that run on hydrogen, focusing on light-duty trucks, and will also use fuel cell trucks in the hydrogen production business underway in Namie Town, Fukushima Prefecture, with the aim of promoting the spread of hydrogen.

In addition, the three companies will establish a new company to cooperate in the development of automated truck driving technology.

Toyota and Isuzu had dissolved their capital alliance three years ago for the purpose of developing small diesel engines, but now they will join forces again.

The Japanese government has set a goal of electrifying all new passenger cars by 2035, but how to proceed with the electrification of trucks is still an issue.

Source: https://www3.nhk.or.jp/news/html/20210324/k10012933241000.html