WOLFSBURG (dpa-AFX) - Hino Motors, Ltd. and Volkswagen Truck & Bus GmbH said that they signed an agreement aiming to build a mutually beneficial strategic long-term partnership on eye-level.
The companies will further explore each other's capabilities to cooperate in logistics and traffic solution research, existing and new technologies as well as in procurement. The evaluation of technology cooperation will focus on conventional powertrains, hybrid and electric powertrains, as well as connectivity and autonomous driving systems. Both partners aim to enhance their respective market positions in the global transportation business and will jointly develop innovative technologies to offer customers the highest value.
A joint Alliance Board has been set up to discuss the direction of the long-term and eye-level partnership. The Alliance Board pursues a pragmatic approach with a lean organization and balanced rights for both companies that remain independent. It comprises the CEOs from both companies as well as additional senior management representatives.
The company said the Alliance Board will explore and evaluate cooperation in existing technologies, e.g. whether there is room for jointly utilizing conventional powertrains, to offer better products for customers. Furthermore, it will also evaluate initiatives for future transportation technologies.
Copyright RTT News/dpa-AFX