Isuzu Motors Completes Acquisition of UD Trucks
Naoto Hakamata has been appointed Chairman of UD Trucks and Tetsuya Aiba CFO of UD Trucks effective 1st April, 2021. Joachim Rosenberg, Volvo Group Executive Vice President, resigned as Chairman of UD Trucks on 31st March, 2021.
Within the framework of the strategic alliance, UD Trucks is well positioned to build a long-term and robust relationship with Volvo Group and Isuzu Motors, creating synergies over the long term. Together with Isuzu Motors, opportunities for UD Trucks include:
- Leveraging each other’s strengths and economies of scale, especially in the area of heavy-duty trucks in Japan and across international markets.
- Exploring cooperation in the areas of purchasing and logistics, leveraging common technology, as well as the geographical footprint complementarity
- Creating a strong base to continue to invest in technical development and innovations for world class products and services.
UD Trucks has built up a wealth of experience and expertise in the heavy-duty truck segment over 14 years together with the Volvo Group in the areas of technology, procurement, logistics, production and sales. The company has also made concerted efforts to promote diversity, flexible ways of working, and a global mindset that embraces change.