Toyota Caetano Portugal (TCAP) has become the direct shareholder of two Portuguese companies to accelerate the spread of hydrogen mobility: bus manufacturing and sales company CaetanoBus, and Finlog, a passenger car financial services company.
The announcement of transport de-carbonisation policies by more European countries and cities is expected to lead to the rapid electrification of commercial vehicles, in particular buses. Toyota Motor Europe (TME) will therefore continue to expand its commercial zero emission mobility products and services by leveraging CaetanoBus’s long-established business and recent success in the development and sale of zero emission buses.
TME already supplies Toyota fuel cell technology to CaetanoBus. This has been integrated into the company’s first hydrogen bus, which has a driving range of 250 miles. As a result of the enhanced alliance, TME will begin the development, production and distribution of Toyota fuel cell buses helping promote further development of a hydrogen society.
In addition, Finlog will develop a full lease programme for the bus business. Using knowledge gained from passenger car full-service leasing, the company is increasing its zero-emission mobility portfolio in European cities.
Jose Ramos, CEO of TCAP said: “We are happy with this opportunity to expand the historical partnership we have with Toyota in 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 by introducing the well-known Toyota Production System (TPS).”
Dr. Johan van Zyl, President of TME 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.”