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 […]

By Editorial Staff

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».

toyota caetanobus finlog

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.

toyota caetanobus finlog

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.

Jose Ramos, CEO of Toyota Caetano Portugal, says: “We are happy with this opportunity to expand the historical partnership we have with Toyota to the bus business. Together with CaetanoBus, we believe we can strongly contribute to the development of the hydrogen society, by exchanging our know-how and human resources as well as by introducing the well-known Toyota Production System (TPS) to them”
Johan van Zyl, President and CEO of Toyota Motor Europe, comments: “These new alliances strengthen our relationship with the Caetano Group and allow us the opportunity to further learn from Caetano’s entrepreneurship and agility. Toyota is committed to deliver sustainable mobility and the introduction of Toyota fuel cell buses will further expand our zero-emission line-up in Europe”.

Related articles

How is the bus industrial landscape changing in Europe?

Body builders are experiencing a new golden age. The ‘electric race’ has shuffled the cards of a sector that has remained too tied to old entrepreneurial logics and dotted with large groups that are economically uncompetitive and poorly responsive to market developments. The pandemic acted as a cata...