Toyota reinvests in Isuzu to cooperate in the development of connected commercial vehicles

Japanese media reported on March 24 that Toyota Motor will reinvest in Isuzu Motors and the two parties will jointly develop networked commercial vehicles and fuel cells.

The two parties announced that Toyota will acquire 39 million shares of Isuzu, worth 42.8 billion yen, accounting for 4.6% of the company's total shares. In 2018, Toyota and Isuzu terminated their previous capital partnership.

Japanese media reported that Toyota's truck division Hino Motors Co., Ltd. will also join in the deepening of cooperation and is committed to the development of connected commercial vehicles and fuel cells. Isuzu, Hino and Toyota said in a statement that the three parties will establish a new joint venture, in which Toyota will hold 80% of the shares, and Isuzu and Hino will each hold 10% of the shares. After the news was issued, the share prices of Isuzu and Hino both ushered in a surge.