Manufacturers are keen to push electric mobility in passenger vehicles. Most automakers have at least one battery-electric vehicle (BEV) in their respective line-ups these days. But what about commercial vehicles such as trucks?
It looks like we can expect that soon as well. That's because Isuzu, Hino, and Toyota are joining forces to develop electric and fuel-cell power for their trucks. Not only that, they aim to add autonomous driving technologies and new platforms for small commercial trucks. With that, they intend to provide a wide array of logistic solutions to help improve transport efficiency and reduced CO2 emissions.
The three companies intend to combine Toyota's Computer-aided software engineering (CASE) with the commercial vehicle foundations made by Isuzu and Hino. Isuzu and Toyota also formed a capital partnership to advance the collaboration between the two.
Toyota will acquire 39 million shares of Isuzu common stock worth a total of JPY 42.8 billion (about PHP 19.1 billion). That will result in Toyota having 4.6% ownership of Isuzu in total issued shares. Also, Isuzu plans to acquire Toyota shares of the same value through market purchase.
To promote the companies' partnership, Isuzu, Hino, and Toyota will establish Commercial Japan Partnership Technologies Corporation. The new company will plan CASE technologies and services based on the discussions amongst the three companies.
With automakers continuing to shift towards electrification, Isuzu, Hino, and Toyota's partnership in making commercial EVs puts them in the right direction moving forward. This move might also spell the end of diesel-powered trucks in the distant future.