Toyota Caetano Portugal (TCAP), the joint venture between Toyota Motor Europe (TME) and Salvador Caetano, is the new shareholder of CaetanoBus and Finlog. The new strategic alliance with the two Portuguese companies will further accelerate the expansion of hydrogen mobility in Europe. Finlog is a car financial services provider, CaetanoBus produces and sells buses.
In order to reduce CO2 emissions in city centers, more and more European countries are relying on electrifying commercial vehicles – especially city buses. For this reason, Toyota is expanding its commercial, emission-free mobility division, using CaetanoBus’ many years of experience in the sale of emission-free buses.
Toyota is already delivering its fuel cell technology to CaetanoBus and integrating it into their first hydrogen-powered bus, which has a range of 400 kilometers. With the new alliance, TME is directly involved in the development, production and sale of fuel cell buses.
Finlog, in turn, will develop a complete operational leasing program focused on the bus business. With their know-how from full-service car leasing, they are expanding their portfolio of emission-free mobility solutions in European cities.
“We are excited about the opportunity to expand our historic partnership with Toyota into the bus business,” said Jose Ramos, CEO of TCAP. “By exchanging our know-how and human resources with CaetanoBus and introducing the well-known Toyota Production System (TPS), we want to make an important contribution to the development of hydrogen technology in society.”
“These new alliances strengthen our relationships with the Caetano Group and give us the opportunity to continue learning from their entrepreneurial spirit and agility,” says Dr. Johan van Zyl, President of TME. “Toyota is committed to developing sustainable mobility. With the introduction of Toyota fuel cell buses, we will continue to expand our range of emission-free vehicles in Europe.”
