|Delayed - 11/27 11:52:05 am|
GlobalData : Hino, Traton e-mobility joint venture to boost global electric commercial vehicle market, says GlobalData
|10/30/2020 | 02:55am|
Hino, Traton e-mobility joint venture to boost global electric commercial vehicle market, says GlobalData Posted in Automotive
Following the news that Volkswagen Group's commercial vehicle division Traton and Japanese truck and bus maker Hino Motors have signed a joint venture (JV) agreement for e-mobility;
Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers his view:
'Hino Motors seems to be well on track with its electrification strategy. The company, which is a key commercial vehicle brand in Japan, Asia and North America, has made major developments in the electric vehicle (EV) segment this year. Recently, Hino signed a commercial battery electric vehicle (BEV) JV with BYD and announced establishment of Toyota-Hino collaboration in March 2020 to co-develop heavy-duty fuel cell trucks. The Traton-Hino JV, which follows the existing long-term strategic cooperation signed between both the parties in 2018 and a procurement JV signed later in 2019, focuses on the manufacturing and supply of BEVs and FCVs, new EV manufacturing platform and components in Europe and Japan.
'The JV is a win-win for both parties and will not only shorten the lead time for product development and full-scale distribution, reduce development costs but also strengthen Hino's position as a leading electric mobility company in the Asia-Pacific commercial vehicle market. Traton will also support Hino's expansion in the Europe region, where it presently holds very small market share. The investment is in-line with Traton's commitment to invest EUR1bn in electrification by 2025. It will help Traton to launch new electric bus and truck models in near-term.
'The success of electric passenger vehicles in Europe and Japan, robust charging infrastructure and supply/demand incentives by governments have made electrification in commercial vehicles a significant area of opportunity. Subsequently, there is a growing interest among OEMs including Hyundai, Toyota, Hino and Nikola to develop heavy-duty fuel cell trucks. Against this backdrop, the Traton and Hino JV is expected to combine the CV and EV capabilities of both the companies to gain a competitive edge in the global market.'
GlobalData plc published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 07:54:08 UTC