Two global commercial vehicle makers, Germany’s Traton SE and Japan’s Hino Motors Ltd., have signed a joint venture agreement to develop electric vehicles, both battery-electric and fuel-cell versions.
Traton and Hino will combine their unique strengths to develop electric vehicles, including battery electric vehicles, fuel cell vehicles, and relevant components, as well as creating common EV platforms including software and interfaces.
They will form a team of advanced specialists from both companies and launch activities in Sweden and a second step in Japan. The two companies say teaming up will allow them to shorten lead times for future e-mobility products with battery and fuel cell technology. The two companies are convinced that both technologies will be needed in the future, according to an announcement.
The strategic partnership will likely affect the North American commercial vehicle market. Traton already has a partnership with Navistar International that included electric-vehicle development, and the two companies recently came to an agreement for Traton to buy Navistar. Hino recently showed off a zero-emissions truck lineup and is working with Toyota to develop a Class 8 fuel-cell truck for North America.
Traton and Hino had previously announced a procurement joint venture.
“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,” said Yoshio Shimo, Hino president and CEO, in a release. “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.”
Traton CEO Matthias Gründler, said, “Traton’s mission is to carefully balance the interests of people, planet, and performance. This new joint venture with our strong partner Hino is the next important step in electrification, pushing our mission further ahead.”
Gründler reiterated Traton’s goal to invest 1 billion Euros in electrification by 2025.
Both companies have agreed to explore each other’s capabilities and investigate further possibilities to collaborate in other future fields of technology.