VOLVO

Volvo Group and Isuzu Motors Friday signed binding agreements

Volvo Group and Isuzu Motors Friday signed binding agreements to form a strategic alliance within commercial vehicles in order to capture the opportunities in the ongoing industry transformation. The agreements include Isuzu Motor’s acquisition of UD Trucks from the Volvo Group for an enterprise value of JPY 243 billion (approx. SEK 20 billion).
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. The two companies have signed an Alliance Framework Agreement for a minimum duration of 20 years, to take up the possibilities and challenges of the logistics industry of the future.
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