Hino Motors, Ltd. which is a subsidiary of Toyota Motor Co. and a manufacturer of diesel trucks and buses recently announced it will establish a new truck manufacturing company, based in Guanajuato, Mexico. The new company called Hinor Motors Manufacturing Mexico is a joint venture with Mitsui & Co. Ltd.
The company, which entered the Mexican market last year with its Hino 300 series, is aiming to increase both its sales volume and build up its brand. It will offer a new product called the Hino 500 Series.
According to a company statement, its goal is to reinforce price competitiveness by implementing logistic cost reductions and preferential tariff arrangements, and by manufacturing (assembling) the new procuct locally, at the new plant.
Furthermore, Hino also will make its capital investment in the sales company, Himex, in order to further strengthen its business in Mexico and generate a synergistic effect with its manufacturing and sales organizations.