Three Japanese automakers, Isuzu Motors Limited, Hino Motors, Ltd. and Toyota Motor Corporation, have agreed today (24th March) to form a new partnership in commercial vehicles, H2Bulletin reports.
The three companies plan to combine Toyota’s Case technologies with Isuzu and Hino commercial vehicle foundations and form a new partnership company called Commercial Japan Partnership Technologies Corporation. The goal of the partnership would be to accelerate Case technology deployment to achieve a carbon-neutral society.
Case refers to new areas of ‘Connected’ cars, ‘Autonomous’ driving, ‘Shared’, and ‘Electric’. Technological developments in these fields are reshaping the automotive industry. The three partners will work on developing these technologies inducing battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) covering small commercial-purpose trucks.
The three automakers also plan to bring social awareness about fuel cell technology and introduce FCEV trucks to hydrogen-based society demonstrations in Japan’s Fukushima Prefecture and accelerate their dissemination initiatives.
They will also integrate their connected technology platforms to build a platform for commercial vehicles to resolve customers’ issues and improve efficiencies to reduce carbon emissions.
Isuzu and Toyota have agreed on a capital partnership where Toyota will acquire 39 million shares of Isuzu common stock worth 42.8 billion yen, resulting in Toyota’s own 4.6% ownership of Isuzu. Isuzu will also buy Toyota shares of the same value through market purchase.
Toyota has been furthering Case technology through investment and partnership and has been advancing the technology by introducing hybrid electric vehicles and the early commercialisation of FCEVs. In 2015, Toyota launched its first-generation fuel cell car, the Mirai and launched the Second-Generation Mirai in December 2021.
Toyota believes that Case technologies can only contribute to society once they become widespread. Commercial vehicles can play an important role in technology dissemination, as they travel long distances for extended periods. Organisations have to join their forces to resolve issues like carbon emission.