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Toyota group truck maker Hino enters strategic tie-up with VW truck unit

TOKYO (Reuters) – Japanese truck maker Hino Motors Ltd (7205.T[1]), majority-held by Toyota Motor Corp (7203.T[2]), said on Thursday it had agreed to form a strategic tie-up with Volkswagen Truck & Bus GmbH.

Hino Motors President Yoshio Shimo and Volkswagen Truck & Bus GmbH CEO Andreas Renschler shake hands as they pose for pictures during their joint news conference in Tokyo, Japan April 12, 2018.

REUTERS/Toru Hanai

The two truck makers will consider cooperating in areas such as diesel and hybrid engines, connectivity and self-driving, Hino said in a statement.

The announcement comes as Volkswagen AG (VOWG_p.DE[3]) aims to list its trucks and buses division in the first quarter of next year, according to two people with knowledge of the matter, as the German automaker considers a broader structural overhaul to boost efficiency.

Reporting by Minami Funakoshi; Editing by Chang-Ran Kim

References

  1. ^ 7205.T (uk.reuters.com)
  2. ^ 7203.T (uk.reuters.com)
  3. ^ VOWG_p.DE (uk.reuters.com)



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