VW’s TRATON and Toyota’s Hino Motors, Ltd. have signed a joint venture agreement for e-mobility in order to plan and provide e-mobility products in the commercial vehicle sector.
The two companies will combine their strengths to develop electric vehicles including battery electric vehicles (BEV), fuel cell vehicles (FCV), and relevant components as well as creating common EV platforms including software and interfaces.
They will form a team of advanced specialists from both companies and launch activities in Södertälje (Sweden) and in Tokyo (Japan).
In 2018, Hino and TRATON signed an agreement, aiming for a mutually beneficial strategic long-term partnership. Both companies have agreed to explore each other’s capabilities and investigate further possibilities to collaborate in other future fields of technology.
Matthias Gründler, CEO at TRATON GROUP, says: “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.”
Yoshio Shimo, President & CEO of Hino Motors, Ltd., adds: “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. 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.”
TRATON GROUP has committed to investing 1 billion EUR in electrification by 2025.