Both partners aim to enhance their respective market positions in the global transportation business and will jointly develop innovative technologies to offer customers.
A joint Alliance Board has been set up based on the SCFA to discuss the direction of the long-term and eye-level partnership.
The Alliance Board comprises of the CEOs from both companies as well as additional senior management representatives.
Yoshio Shimo, President & CEO of Hino Motors, Ltd., said: “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.
“It will also be a strong tie-up at times of new challenges in the field of transportation due to the rapid growth of e-commerce.”
Andreas Renschler, member of the Board of Management of Volkswagen AG and CEO of Volkswagen Truck & Bus, said: “We are delighted to enter into the SCFA with Hino Motors as we are teaming up with one of the leading truck and bus companies, whose presence is especially strong in Asia.
“It is an excellent fit in terms of regional footprints and products, but also concerning common ideas on how to shape the future of transportation together.”
Autonomous trucks are being heralded as the next major breakthrough in transport logistics, with the potential for continuous travel and efficiency increases.
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