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12/18/2019, 7:27 AM (Source: TeleTrader)
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Volvo and Isuzu to form technology partnership

The Volvo Group and Isuzu Motors signed on Wednesday a non-binding memorandum of understanding aiming to form a global technology partnership that will optimize their opportunities within the sector.

As per the official announcement, the first step of transformation is meant for creating a stronger heavy-duty truck business for Isuzu Motors and UD Trucks in Japan and on international markets. Global UD Trucks business will, therefore, be transferred from Volvo Group to Isuzu Motors in order to accomplish higher volumes and bigger growth.

Martin Lundstedt, President and CEO of the Volvo Group said that "the Volvo Group and Isuzu Motors have a well-established relationship on medium-duty trucks in Japan based on mutual respect, shared values and win-win spirit. We see great potential to extend our cooperation within technology, sales and service as well as other areas going forward, for the benefit of our customers and business partners."

Breaking the News / TF