Volvo Group and Isuzu Motors form strategic alliance
The agreements include Isuzu Motor’s acquisition of UD Trucks from the Volvo Group
The Volvo Group and Isuzu Motors have signed binding agreements to form a strategic alliance within commercial vehicles to capture the opportunities in the ongoing industry transformation.
Subject to regulatory approval, the agreements include Isuzu Motor’s acquisition of UD Trucks from the Volvo Group for an enterprise value of JPY 243 billion (approximately SEK 20 billion).
The alliance between Volvo Group and Isuzu Motors is set to a build long-term and robust relationship that will encompass but not be limited to:
Forming a technology partnership, intended to leverage the parties’ complementary areas of expertise.
Creating the best long-term conditions for a stronger heavy-duty truck business for UD Trucks and Isuzu Motors in Japan and across international markets by transferring ownership of the complete UD Trucks business from the Volvo Group to Isuzu Motors.
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Exploring further opportunities for even broader and deeper collaboration within the commercial vehicle businesses across geographical areas and product lines for future urban logistics solutions
Exploring cooperation in the areas of purchasing and logistics, leveraging common technology, as well as the geographical footprint complementarity and volume expansion.
The Volvo Group and Isuzu Motors will establish a Joint Alliance Office, with facilities both in Japan and Sweden, which will be overseen by an Alliance Board comprising the Isuzu Motors President, the Volvo Group CEO, and other key executives from the two groups.
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