Isuzu Motors has completed the purchase of UD Trucks from the Volvo Group for an enterprise value of $2.1 billion.
The transaction completes a deal which was first announced in 2019.
The latest models of the Japanese brand are heavily influenced by Volvo Group technology and the two firms have launched a now operational commercial vehicles strategic alliance with the “aim to capture opportunities in the ongoing industry transformation.”
The new organisation will operate a Joint Alliance Office, with facilities both in Japan and Sweden. It will remain operational for a minimum of 20 years and “is intended to address possibilities and challenges of the logistics industry of the future, maximising value and benefits for customers as well as for society.”