Capital Equipment News February 2021

which is proof of the company’s Better Life strategy in practice. Volvo Group and Isuzu Motors strategic alliance In December 2019, the Volvo Group and Isuzu Motors announced the signing of a non-binding Memorandum of Understanding with the intent to form a strategic alliance within commercial vehicles to capture the opportunities in the ongoing transformation of the industry. End October 2020, the binding agreement was signed. The alliance between the Volvo Group and Isuzu Motors is set to a build long-term and robust relationship that will encompass but not be limited to: 1. 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. 2. Creating the best long-term conditions for a stronger heavy-duty truck business for UD Trucks and Isuzu Motors in

The Allison automatic transmissions ease the job at hand for drivers who spend the day in the urban environment, facing long hours of traffic with multiple stops and cargo drops.

even broader and deeper collaboration within the commercial vehicle businesses across geographical areas and product lines for future urban logistics solutions. Final closing is expected during the first half of 2021. The transaction is subject to certain conditions, including approval from regulatory authorities. b

Japan and across international markets by transferring ownership of the complete UD Trucks business from the Volvo Group to Isuzu Motors. This will accelerate growth by leveraging greater volumes and complementary capabilities, creating significant synergies for Isuzu Motors. 3. Exploring further opportunities for

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CAPITAL EQUIPMENT NEWS FEBRUARY 2021