Toyota Motor Europe strengthens strategic alliance with CaetanoBus and Finlog in fuel cell bus business
Toyota Caetano Portugal (TCAP), the joint venture of Toyota Motor Europe (TME) and Salvador Caetano, strengthened its strategic alliance with CaetanoBus and Finlog by becoming the direct shareholder of the two Portuguese companies.
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 decarbonization 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.
TME is already supplying the Toyota fuel cell technology to CaetanoBus and integrating it into their first hydrogen bus with a range of 400 km (249 miles).
Transports Metropolitans de Barcelona (TMB), the main public transport operator in Barcelona’s metropolitan area, is acquiring eight 12m hydrogen vehicles from CaetanoBus. TMB is supported by the European JIVE 2 program, for the promotion of fuel cell vehicles, co-financed by the European Union.
The ordered H2.City Gold units, equipped with the Toyota fuel cells, are to be delivered by the end of 2021.
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 know-how from passenger car full-service leasing, the company is increasing its portfolio of zero-emission mobility solutions throughout European cities.