MUNICH and TOKYO — TRATON SE and Hino Motors Ltd. have signed a joint venture agreement to develop and produce electric commercial vehicles, the two companies announced Oct. 28.
TRATON, a commercial-vehicle manufacturer and subsidiary of Volkswagen AG, and Hino, a Toyota Group company that produces commercial trucks and buses, plan to develop e-mobility solutions, including battery-electric vehicles (BEVs), fuel-cell vehicles (FCVs) and relevant components. In addition, the venture will include the creation and development of common electric-vehicle (EV) platforms, including software and interfaces.
“TRATON’s mission is to carefully balance the interests of People, Planet and Performance. This new joint venture with our strong partner Hino is the next important step in electrification, pushing our mission further ahead,” said Matthias Gründler, CEO of TRATON, reiterating that TRATON has a goal of investing 1 billion euros in electrification until 2025.
In the first phase of the venture, TRATON and Hino will form a team of advanced specialists from the two companies and launch activities in Sweden; the second phase will include implementing a team in Tokyo.
“I am delighted that we can follow our procurement joint venture and further embodying our synergy with TRATON in e-mobility, helping to reduce global CO2 emissions and fighting global warming,” said Yoshio Shimo, president and CEO of Hino. “We will combine our strengths as leading commercial vehicle manufacturers to offer EVs with the highest value for customers, through joint planning of commercial EVs.”
The agreement builds on a strategic partnership established by TRATON and Hino in 2018. The companies established a joint procurement venture in 2019 and consider this latest e-mobility agreement to be a solidification of their collaboration, according to a statement issued by the two companies.
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