Volvo Group And Isuzu Motors Form Strategic Alliance
Will partner for medium- and heavy-duty electric vehicles.
Volvo Group and Isuzu Motors signed final agreements to form a strategic, long-term alliance (a minimum duration of 20 years), hinted at in December 2019. Part of the deal is a cooperation on commercial electric vehicles.
Volvo Group is one of the largest manufacturer of trucks and buses, under multiple companies, including Volvo Trucks, Volvo Bus, Volvo CE, Volvo Penta, Renault Trucks and Mack Trucks and UD Trucks.
As part of the deal, the UD Trucks will be acquired by Isuzu Motor for an enterprise value of JPY 243 billion (approx. SEK 20 billion).
We guess that Volvo Group’s experience with EVs already implemented by all its brands will be an important asset for Isuzu Motors. The other benefit will be a higher scale of the alliance and new opportunities as – according to the press release – there is great complementarity between the groups from both a geographical and product line perspective.
Let’s take a look at the main points of the alliance:
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