Volkswagen Truck & Bus and Hino Motors agree on strategic partnership
Volkswagen Truck & Bus and Hino Motors have signed a Strategic Cooperation Framework Agreement (SCFA). The companies plan to explore each other’s capabilities and cooperate in logistics and traffic solution research, existing and new technologies, and procurement. The technology cooperation will focus on conventional powertrains, hybrid and electric powertrains as well as connectivity and autonomous driving systems. Both partners aim to enhance their respective market positions in the global transportation business and to jointly develop innovative technologies.
A joint Alliance Board, based on the SCFA, was established to discuss the direction of the long-term and eye-level partnership. The Alliance Board consists of the CEOs from both companies as well as additional senior management representatives.
Among other things, the board will explore and evaluate cooperation in existing technologies, such as the possibility of jointly using conventional powertrains to offer better products for customers. It will also evaluate initiatives for future transportation technologies.
By joining forces in a strategic partnership, the companies expect to expand their respective global footprints and enhance their abilities to tackle the challenges of the industry.