Back in December 2019, prominent truck manufacturers Isuzu and Volvo confirmed they will be forming a strategic alliance that will result in the joint development of heavy-duty vehicles. Now, the two companies have made some big steps toward the next phase of this partnership.
Isuzu has officially acquired the global ownership of UD Trucks from the Volvo Group. This marks the start of operations of the alliance, and will result in the establishment of a Joint Alliance Office with facilities in both Japan and Sweden. Overseeing the office will be an Alliance Board, and the members will be the Isuzu Motors president, the Volvo Group CEO, and other key executives.
In this next phase of its alliance, Isuzu and Volvo aim to support investments for world-class technologies. They will also work on formulating the best long-term conditions for stronger business for UD Trucks and Isuzu in Japan. In addition, the two companies will begin exploring cooperation in purchasing and logistics, and will look to broaden collaboration within the CV businesses across geographical areas.
Isuzu said in its press release that the alliance “is intended to address possibilities and challenges of the logistics industry of the future, maximizing value and benefits for customers as well as for society.”
This isn’t the only big news for the commercial vehicle industry. Recently, Toyota, Hino, and Isuzu also formalized a partnership wherein the three automakers will jointly develop battery and fuel-cell electric vehicles of the future.