- Toyota Caetano Portugal (TCAP), the joint venture of Toyota Motor Europe (TME) and Salvador Caetano, strengthened its strategic alliance with CaetanoBus and Finlog.
- The alliance will push for further expansion of Toyota’s zero emission mobility solutions on the way to the hydrogen society.
Brussels– Toyota Caetano Portugal (TCAP) became the direct shareholder of two Portuguese companies today. The enhanced strategic alliance with bus manufacturing and sales company CaetanoBus, and Finlog, a passenger car financial service company, aims to accelerate the spread of hydrogen mobility.
As more European countries and cities announce strategic policies to promote the decarbonisation of mobility, it is expected that commercial vehicles, especially city buses will be electrified rapidly. Therefore, TME will further expand its commercial zero-emission mobility by leveraging CaetanoBus’s long-standing bus business and recent strong efforts in the development and sales of zero-emission buses.
Already today, TME is supplying the Toyota fuel cell technology to CaetanoBus and integrating it into their first hydrogen bus with a range of 400km. Triggered by this enhanced alliance, TME will initiate in the development, production and distribution of Toyota fuel cell buses to expand its zero emission mobility solutions to promote further growth of the hydrogen society.
Finlog, on the other hand, will develop a full operational lease program focused on the bus business. Using their know-how from passenger car full-service leasing, they are increasing their portfolio of zero-emission mobility solutions throughout European cities.
Jose Ramos, CEO of Toyota Caetano Portugal said, “We are happy with this opportunity to expand the historical partnership we have with Toyota to the bus business. Together with CaetanoBus, we believe we can strongly contribute to the development of the hydrogen society, by exchanging our know-how and human resources as well as by introducing the well-known Toyota Production System (TPS) to them.”
Dr. Johan van Zyl, President and CEO of Toyota Motor Europe said, “These new alliances strengthen our relationship with the Caetano Group and allow us the opportunity to further learn from Caetano’s entrepreneurship and agility. Toyota is committed to deliver sustainable mobility and the introduction of Toyota fuel cell buses will further expand our zero-emission line-up in Europe.”