The truck units of Toyota Motor Corp. and Volkswagen AG have said they will team up on electric vehicle technology and set up a procurement joint venture as part of a broader alliance.
Japanese truck maker Hino Motors Ltd. and German truck manufacturer Traton AG said in a press release Tuesday that they “plan to share their development efforts and market products in shorter time” in connection with their EV operations, amid tighter emissions regulations across the globe.
Hino has strengths in electrification technology for small- and medium-sized trucks, while Traton focuses on uses of such technology in large trucks.
The two companies also plan to set up a joint venture to handle the purchase of common parts in the latter half of 2019.
The tie-ups are part of an alliance the companies announced in April for autonomous driving, electric vehicles and hybrid technologies.