Hino, VW Ink Long-Term Strategic Partnership Deal
Hino’s Yoshio Shimo and VW’s Andreas Renschler announced a new strategic partnership between the to companies to develop new technologies. Photo: Sven-Erik Lindstrand
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Going it alone is an increasingly tough proposition for OEMs in today’s hyper-competitive automotive industry. That fact, based on what the companies call their “common ideas,” have led Hino Motors and Volkswagen Truck & Bus to sign a long-term strategic partnership agreement that aims to “further explore each other’s capabilities to cooperate in logistics and traffic solution research, existing and new technologies as well as in procurement.”
According to Hino’s announcement of the partnership, “the evaluation of 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 will jointly develop innovative technologies to offer customers the highest value. “
The two companies have set up a Joint Alliance Board based on the agreement to discuss the direction of the long-term and eye-level partnership. According to Hino, the Alliance Board will pursue a “pragmatic approach with a lean organization and balanced rights for both companies that remain independent.” The board comprises chief executive officers from both companies as well as additional senior management representatives.
Among other things, the Alliance Board will explore and evaluate cooperation in existing technologies, with an eye toward determining whether there is room for jointly utilizing conventional powertrains, to offer better products for customers. Furthermore, according to Hino, it will also evaluate initiatives for future transportation technologies.
“This agreement was made possible because Hino Motors and Volkswagen Truck & Bus respect each other and share the same aspiration to offer customers the highest value,” Yoshio Shimo, president and CEO of Hino Motors, said of the agreement. “Hino Motors invented the company slogan ‘Trucks and Busses …Read the rest of this story
