Isuzu Volvo To Tie Up For Next-Generation Truck Technology Yomiuri

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Isuzu Volvo To Tie Up For Next-Generation Truck Technology Yomiuri

TOKYO (Reuters) – Japanese truck maker Isuzu Motors plans to tie up with Sweden’s Volvo AB to develop next-generation technologies including electrification and autonomous driving, Japan’s Yomiuri newspaper reported on Wednesday.

Isuzu said President Masanori Katayama will hold a news conference at 0600 GMT in Tokyo on an “alliance”, but did not elaborate.

The Japanese maker of mid-sized trucks specializes in diesel technology, but has also pledged to develop electric vehicles in the coming years.

Vehicle makers are facing a major shift in the global auto industry, where the rise of electric vehicles, self-driving cars and on-demand services are forcing companies to invest heavily in new technologies.

https://www.reuters.com

The logo of Swedish automobile manufacturer Volvo is seen at Stierli Automobile AG company in St. Erhard, Switzerland

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This has prompted a number of vehicle makers to tap rival for partnerships and mergers.

A collaboration between Isuzu and Volvo’s unit in Japan, UD Trucks, in production is likely to be considered in the future, the newspaper said.

Following the report, Isuzu shares jumped 3% in afternoon trade.

Reporting by Chris Gallagher; Editing by Himani Sarkar and Arun Koyyur

Isuzu Volvo To Tie Up For Next-Generation Truck Technology Yomiuri

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