Isuzu will buy out the Japanese truck manufacturer UD Trucks from the Swedish Volvo Group (aka AB Volvo).
The deal is worth SEK 20 billion ($2.29 billion) and is expected to close in the first half of 2021. For the sale of UD Trucks, a number of technical procedures are required, including the approval of the antimonopoly service, the press service of AB Volvo notes.
Isuzu is one of the world's largest manufacturers of light and medium-duty trucks, in 2019 it sold 252,000 vehicles with a gross weight of 3.5 to 15 tons.
AB Volvo is a manufacturer of trucks, buses and construction equipment. Legally, it has not been related to the “passenger” Volvo Cars since 1999.
UD Trucks, formerly Nissan Diesel, has been part of AB Volvo since 2007.
Future medium-duty Isuzu and UD will be built on common platforms.
AB Volvo and Isuzu have also agreed on a long-term strategic partnership, which will primarily be expressed in the exchange of technologies.
Isuzu buys UD (Nissan Diesel) from truck Volvo
