Isuzu Motors has acquired UD Trucks from the Volvo Group in a deal worth around €1.87 billion. The deal is part of the completion of the strategic alliance between the Volvo Group and Isuzu Motors.
The alliance, which runs for a minimum 20 years, will see both companies form a technology partnership to leverage their complementary areas of expertise within both well-known and new technologies.
The Volvo Group and Isuzu Motors 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.
Both parties say that the join alliance will also:
- Create 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.
- Explore further opportunities for even broader and deeper collaboration within the commercial vehicle businesses across geographical areas and product lines for future urban logistics solutions.
- Explore cooperation in the areas of purchasing and logistics, leveraging common technology, as well as the geographical footprint complementarity and volume expansion.