April 1, 2021: Isuzu Motors and the Volvo Group today completed the transaction whereby Isuzu Motors acquired UD Trucks from the Volvo Group. The strategic alliance within commercial vehicles between the two groups, aiming to capture opportunities in the ongoing industry transformation, will now also become operational.
The Alliance between Isuzu Motors and the Volvo Group is set to build a long-term and robust relationship. Alliance work is now entering the next phase to derive potential synergies in areas that will encompass but are not be limited to:
- Forming a technology partnership, intended to leverage the parties’ complementary areas of expertise within both well-known and new technologies and creating a larger volume base to support investments for world-class technology.
- Creating the best long-term conditions for a stronger heavy-duty truck business for UD Trucks and Isuzu Motors in Japan and across international markets by transferring ownership of the complete UD Trucks business from the Volvo Group to Isuzu Motors.
- Exploring further opportunities for even broader and deeper collaboration within the commercial vehicle businesses across geographical areas and product lines for future urban logistics solutions.
- Exploring cooperation in the areas of purchasing and logistics, leveraging common technology, as well as the geographical footprint complementarity and volume expansion.
Isuzu Motors and the Volvo Group will establish a Joint Alliance Office, with facilities both in Japan and Sweden, which will be overseen by an Alliance Board comprising the Isuzu Motors President, the Volvo Group CEO and other key executives from the two groups.
The Alliance is agreed to have a minimum duration of 20 years and is intended to address possibilities and challenges of the logistics industry of the future, maximizing value and benefits for customers as well as for society.
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