Toyota invests in CaetanoBus and leasing company Finlog in a bet to advance fuel cell bus sales
Toyota joins forces with CaetanoBus and Finlog in an effort dedicated to the development and production of fuel buses in Europe. The strategic alliance has been made public by Toyota: the brand explains that «Toyota Caetano Portugal (TCAP), the joint venture of Toyota Motor Europe (TME) and Salvador Caetano, strengthened its strategic alliance with CaetanoBus […]
Toyota joins forces with CaetanoBus and Finlog in an effort dedicated to the development and production of fuel buses in Europe.
The strategic alliance has been made public by Toyota: the brand explains that «Toyota Caetano Portugal (TCAP), the joint venture of Toyota Motor Europe (TME) and Salvador Caetano, strengthened its strategic alliance with CaetanoBus and Finlog. The alliance will push for further expansion of Toyota’s zero emission mobility solutions on the way to the hydrogen society».
According to the Portuguese media Jornal de negocios, Toyota Caetano Portugal (which is controlled for the 68% by Salvador Caetano and 27% by Toyota Motor Europe) has invested 39.1 million euros in shares of CaetanoBus and Finlog: «the JV will buy 61.94% of the share capital of CaetanoBus for 16 million euros and 49% of Finlog for 22.7 million euros».
The Caetano H2.City Gold, powered with Toyota fuel cell technology, has been recently tested in Ireland and in London. It will be provided in 8 units in Barcelona, following the awarding of the European tender to the Portuguese manufacturer. CaetanoBus has recently signed a contract with TMB Barcelona for the supply of 8 hydrogen buses. Also, a few units are headed to Germany, in Niebüll and Bielefeld. Unveiled at Busworld 2019, the Caetano H2.City Gold is available in 10.7 or 12 meter version, LHD and RHD variants.
Toyota invests in CaetanoBus
Toyota Caetano Portugal (TCAP) became the direct shareholder of two Portuguese companies on the 17th December 2020. 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.
Already today, Toyota is supplying the Toyota fuel cell technology to CaetanoBus and integrating it into their first hydrogen bus with a stated range of 400km. 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 to develop a lease program for buses
Finlog, on the other hand, will develop a full operational lease program focused on the bus business. Using their know-how from passenger car full-service leasing, they are increasing their portfolio of zero-emission mobility solutions throughout European cities.
