TRATON and Hino establish a procurement joint venture
Management
Oct 29, 2019
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・Procurement joint venture "HINO & TRATON Global Procurement GmbH" established as concretion of 2018 Strategic Cooperation Framework Agreement |
Munich / Tokyo, October 29, 2019 - Commercial vehicle manufacturers TRATON Group and Hino Motors, Ltd. have reached a further milestone in their strategic partnership aiming to offer customers the highest value: The two companies have established the procurement joint venture "HINO & TRATON Global Procurement" in order to maximize the global procurement synergies between the two companies. The joint procurement targets a wide range of parts and technologies whose purchasing contracts are made by the two companies. Through this partnership, HINO and TRATON anticipate an increased global footprint, in particular in Europe and Asia, resulting in an expanded supplier base.
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.
