Isuzu and TIER IV Form Capital and Business Alliance

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TOKYO, March 5, 2024 /PRNewswire/ -- Isuzu Motors Limited (headquartered in Yokohama, Kanagawa, Japan; President and COO: Shinsuke Minami; hereinafter Isuzu) and TIER IV, Inc. (headquartered in Nagoya, Aichi, Japan; Founder, CEO and CTO: Shinpei Kato; hereinafter TIER IV) have agreed to form a capital and business alliance for the development of autonomous driving systems for route buses. In this tie-up, Isuzu will invest six billion yen (approximately 40 million US dollars) in TIER IV.

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Wednesday, March 6, 2024
Information
Tags: 
Open Platform, Digital transformation, Vehicular automation, DX, Research, Digital, Carbon, NEDO, Isuzu, New energy, TIER, Software, Partnership
Geotags: 
JAPAN, TOKYO
Organisation: 
TIER IV,INC
Summary
Key Points: 
  • TOKYO, March 5, 2024 /PRNewswire/ -- Isuzu Motors Limited (headquartered in Yokohama, Kanagawa, Japan; President and COO: Shinsuke Minami; hereinafter Isuzu) and TIER IV, Inc. (headquartered in Nagoya, Aichi, Japan; Founder, CEO and CTO: Shinpei Kato; hereinafter TIER IV) have agreed to form a capital and business alliance for the development of autonomous driving systems for route buses.
  • In this tie-up, Isuzu will invest six billion yen (approximately 40 million US dollars) in TIER IV.
  • Isuzu and TIER IV have reached an agreement to develop autonomous driving systems and expand business initiatives in the route bus sector.
  • Through this partnership, Isuzu and TIER IV are committed to leading innovation in the autonomous driving segment, bringing a broad range of benefits to society.




Isuzu and TIER IV Form Capital and Business Alliance

– Alliance Gears Up for Level 4 Autonomous Driving –

TOKYO, March 5, 2024 /PRNewswire/ -- Isuzu Motors Limited (headquartered in Yokohama, Kanagawa, Japan; President and COO: Shinsuke Minami; hereinafter Isuzu) and TIER IV, Inc. (headquartered in Nagoya, Aichi, Japan; Founder, CEO and CTO: Shinpei Kato; hereinafter TIER IV) have agreed to form a capital and business alliance for the development of autonomous driving systems for route buses. In this tie-up, Isuzu will invest six billion yen (approximately 40 million US dollars) in TIER IV.

The alliance is aimed at speeding up the development and deployment of autonomous driving systems, specifically designed for route buses, with the overarching goal of delivering Level 4 autonomous driving.

Isuzu and TIER IV have reached an agreement to develop autonomous driving systems and expand business initiatives in the route bus sector. Through the synergy of TIER IV's advanced technologies and Isuzu's extensive data and expertise in route buses, the companies will develop vehicles and systems compatible with Level 4 autonomous driving. Looking ahead, Isuzu envisions delivering comprehensive solutions to bus operators, offering route buses equipped with autonomous driving systems.

TIER IV, the pioneering force behind the world's first open-source software for autonomous driving, "Autoware"*1, has been involved in proof-of-concept tests around the world, harnessing the software that facilitates the design and development of safe and reliable systems. Underscoring TIER IV's technological advancements in this domain, the company has been selected by the New Energy and Industrial Technology Development Organization (NEDO) for the "Open Platform Software for Automated Driving,"*2 research and development project, as part of the Green Innovation Fund Projects.

In May 2023, Isuzu Group announced it would invest a total of one trillion yen by 2030 towards carbon neutrality initiatives and advanced DX (Digital Transformation) for logistics. As the shortage of drivers in the logistics and public transportation sector intensifies, Isuzu believes that the development and widespread adoption of autonomous driving technology, which underpins DX for logistics, will not only address these societal challenges, but also act as a key driver for Isuzu Group's business in the future.

Through this partnership, Isuzu and TIER IV are committed to leading innovation in the autonomous driving segment, bringing a broad range of benefits to society.

*1 "Autoware" is a registered trademark of the Autoware Foundation.
*2 NEDO news release (July 19, 2022) / TIER IV news release (July 19, 2022)

Outline of Isuzu
Company name: Isuzu Motors Limited
Establishment: April 1937
Representative: Shinsuke Minami, President and Representative Director, COO
Number of employees: 44,495 (as of the end of March 2023)
Business description: Manufacture and sale of automobiles, transportation machinery and equipment, engines and other products, their parts and related materials and supplies
Website: https://www.isuzu.co.jp/world/

Outline of TIER IV
Company name: TIER IV, Inc.
Establishment: December 2015
Representative: Shinpei Kato, Founder, CEO and CTO
Number of employees: Approximately 330 (as of the end of January 2024)
Business description: Development of autonomous driving systems and platform business
Website: https://tier4.jp/en

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SOURCE TIER IV,INC



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