Toyota Caetano Portugal (TCAP) has become the direct shareholder of two Portuguese companies. This strategic alliance with CaetanoBus, a bus manufacturing and sales company, 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 decarbonization of mobility, it is expected that commercial vehicles – especially city buses – will be electrified rapidly. TME will further expand its commercial zero-emission mobility by leveraging CaetanoBus’ long-standing bus business and recent efforts in the development and sales of zero-emission buses.
“We are happy with this opportunity to expand the historical partnership we have with Toyota to the bus business,” says Jose Ramos, CEO of Toyota Caetano Portugal. “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.”
TME is supplying Toyota’s fuel cell technology to CaetanoBus and integrating it into the company’s first hydrogen bus with a range of 400 km. TME will initiate 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 will develop a full operational lease program focused on the bus business. Using their industry knowledge from passenger car full-service leasing, they are increasing their portfolio of zero-emission mobility solutions throughout European cities.
Photo: CaetanoBus’ landing page