Truck makers Isuzu and Volvo enter a new phase in their strategic alliance that aims to establish a global technology partnership in developing heavy-duty trucks.
On April 1, Isuzu Motors officially acquired UD Trucks from the Volvo Group.
“The Volvo Group and Isuzu Motors have a well-established relationship on medium-duty trucks in Japan based on mutual respect, shared values, and a 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,” said Volvo Group President and CEO Martin Lundstedt. “Our UD Trucks colleagues have done a great job to improve performance in recent years and the alliance opens up a great opportunity to continue the successful journey.”
Under this alliance, both companies will leverage their respective areas of expertise and support investments for world-class technologies.
“Isuzu Motors and the Volvo Group strongly believe in the business opportunities and synergy potential between the two groups. We intend to derive the full value from each other's different specialties across product and geographical strongholds. Our collaboration will actively contribute to service improvements and strengthen customer satisfaction as well as to prepare ourselves for the forthcoming logistics revolution," commented Masanori Katayama, president and representative director of Isuzu Motors Limited.
The acquisition of UD Trucks will help foster long-term conditions for a stronger heavy-duty truck business for UD Trucks and Isuzu Motors in Japan and across international markets.
Furthermore, the two truck manufacturers will continue to explore opportunities within the commercial vehicle business across geographical areas and product offerings, including light- and medium-duty trucks.
A Joint Alliance Office will be established by Isuzu and Volvo, with offices located in both Japan and Sweden. An Alliance Board will also be organized which will include the Isuzu Motors President, the Volvo Group CEO and other key executives from the two groups.
Isuzu Motors and the Volvo Group intend to address the challenges in the logistics industry and explore new possibilities through the agreed 20-year partnership.
Photos from Volvo and UD Trucks