Yoshio Shimo, President & CEO of Hino Motors, Ltd.: “The joint venture is a key milestone of our strategic partnership. It enables HINO to offer products that meet customers` needs faster and appropriately priced. We are also in talks with TRATON about additional areas of collaboration announced in September 2018, which also aims to join forces in the area of electric mobility.“

Andreas Renschler, CEO of TRATON SE and Member of the Board of Management of Volkswagen AG: “The partnership with Hino is important for our Global Champion Strategy which we continue to determinedly execute. Our customers are going to benefit from an even larger basis of suppliers”.

TRATON holds a 51% stake and Hino 49%, and the joint venture will have offices both in Munich and Tokyo.

Back in 2018 Hino Motors, Ltd. and TRATON signed an agreement, aiming for a mutually beneficial strategic long-term partnership on eye-level. Based on their shared value to "offer customers the highest value", both companies agreed to explore each other's capabilities to cooperate in existing and new technologies as well as in procurement.