Hino, Volkswagen Unit to Launch Procurement Joint Venture

Economy

Tokyo, Sept. 18 (Jiji Press)--Japanese automaker Hino Motors Ltd. <7205>, a subsidiary of Toyota Motor Corp. <7203>, said Monday it will set up a procurement joint venture with Traton AG, a commercial vehicle manufacturing unit of Volkswagen AG.

The move comes as the first concrete step under a comprehensive alliance that was formed between the two companies in April.

They aim to establish the venture in the latter half of 2019.

The two companies will also cooperate in developing autonomous driving technologies and vehicles, including trucks, and explore the possibility of mutually supplying such vehicles.

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