Japan's Toyota, Isuzu, Hino collaborate in truck technology

Japanese automakers Toyota, Isuzu, and Hino are setting up a partnership in commercial vehicles to collaborate in electric, hydrogen, connected and autonomous driving technologies.

The cooperation among the three is designed to reduce emissions by building hydrogen infrastructure and to help solve the shortage of drivers by sharing information online and making deliveries more efficient.

The three companies plan to develop electric vehicles, fuel cell vehicles, autonomous driving, and electronic platforms for trucks, allowing them to cut costs, promote ecological infrastructure, and boost traffic safety.

Under the deal, Toyota Motor Corp., and truck maker Isuzu Motors will each take a 4.6 percent stake in each other, or equivalent to 39 million shares of common stock worth 42.8 billion yen in each.

The three companies combined control 80 percent of the Japanese truck market.

Toyota sold off in 2018 a 5.9 percent stake in Isuzu that it had bought in 2006.

To promote their partnership and plan technology and services, the three companies will set up a Tokyo-based company to be named Commercial Japan Partnership Technologies Corp.

The soon-to-be-formed company, to be capitalized at 10 million yen, will be 80 percent owned by Toyota, with 10 percent each to be held by Isuzu and Hino.