Volkswagen Trucks & Bus recently announced that they have signed a Strategic Cooperation Framework Agreement with Japanese manufacturer Hino Motors, Ltd.
The agreement made between the two companies is said to build a 'mutually beneficial strategic long-term partnership on eye-level.' To be more specific, both companies will explore capabilities in the fields of logistics and traffic solutions.
Apart from those, the two manufacturers will also work together to enhance current technology and develop new technology that could be applied to their trucks and buses. The two companies will also focus on the development of powertrains be it conventional internal combustion engines, hybrids, or fully electric vehicles.
There is also the possibility that Hino and Volkswagen Trucks & Bus could share powertrains that are currently in use. Doing so would help both companies to 'offer better products for customers', and possibly lowering the costs of developing and producing upcoming models.
“Hino Motors will pursue regional business cooperation and joint utilization of technologies with Volkswagen Truck and Bus to offer customers better products and ultimately customized total support. It will also be a strong tie-up at times of new challenges in the field of transportation due to the rapid growth of e-commerce,” said Yoshio Shimo, president & CEO of Hino Motors
“We are delighted to enter into the SCFA 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,” said Andreas Renschler, CEO of Volkswagen Truck & Bus.
Hino Motors currently has a strong presence in Asia and the Japanese market. Meanwhile, Volkswagen Truck & Buses and its sub-brands have a strong presence in Europe and Brazil. Through the partnership, both companies will be able to expand their global footprints.