A joint venture agreement for e-mobility products has been signed this week as part of a Hino and Traton electric power deal. The new JV will drive sustainable transport, based on the strategic partnership started in 2018.
This deal follows the drive train co-operation agreement two years ago, that has now led to the formation of the JV.
“We will combine our strength as leading commercial vehicle manufacturers to provide the highest value to customers through joint planning of commercial EVs,” said Yoshio Shimo, Hino President and CEO. “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.”
Alongside Hino, the Traton organisation, which includes Volkswagen, Scania and MAN, is expected to combine to develop electric vehicles including battery electric vehicles (BEV), fuel cell vehicles (FCV), and relevant components as well as creating common electric vehicle platforms including software and interfaces.
The Hino and Traton electric power deal will form a team of specialists from both companies and launch activities in Södertälje (Sweden) and in a second step in Tokyo (Japan). The exppectation on the part of both parties is that working together will shorten lead times for future e-mobility products with battery and fuel cell technology.
Both companies say they are convinced that both technologies will be needed in the future. It is Traton’s intention to goal to invest 1 billion EUR ($1.66 billion) until 2025 in electrification.
“TRATON’s mission is to carefully balance the interests of People, Planet and Performance,” said Matthias Gründler, CEO at Traton Goup. “This new joint venture with our strong partner Hino is the next important step in electrification, pushing our mission further ahead.”