Toyota, Isuzu, Hino agree on tie-up

Three Japanese automakers have agreed to form a new partnership. The companies are Toyota, Isuzu and Hino.
They say they'll work together on environmentally friendly vehicles and autonomous technologies, with a focus on trucks.

The partnership also includes a capital tie-up between Toyota and Isuzu. Toyota will acquire a stake of about 5 percent in Isuzu for 42.8 billion yen or about 400-million dollars. Isuzu will obtain the same value of Toyota shares.

The two companies together with Toyota group firm Hino will jointly develop electric and fuel cell vehicles, mainly small trucks. They will establish a new venture to work on self-driving technology for trucks.

Officials say they also plan to contribute to achieving a carbon-free society.

The agreement comes after Toyota and Isuzu ended a capital tie-up in 2018. That project was aimed at developing small diesel engines.