Cummins and Isuzu have announced they have signed a Letter of Intent to jointly evaluate opportunities to deliver products in the commercial vehicle space.

The statement says that power sources are increasingly becoming more diverse and emissions regulations continue to grow more stringent around the world and that significant investment will be required to deliver next generation diesel and natural gas based powertrains as well as alternative powertrains, connectivity and autonomy.

It goes on to say that collaboration and strategic partnerships will be essential to share increased investment costs and win in the market.

“Isuzu is a leading global company with a reputation for excellence in trucks, powertrains and customer service” said Tom Linebarger,  chairman and CEO of Cummins.

“Our companies share a commitment to technology leadership, quality and dependability for our customers, and global reach. We also share common values in the way we do business and how we treat our people, our customers, and our partners. Cummins is. honoured to be working with Isuzu and to explore how to leverage our respective strengths to create new opportunities for both companies,” he added.

The statement says that together the companies believe there may be opportunities to benefit from each other’s strengths leading to growth for both companies.

Each company has said  they have  committed to assign a team of individuals over the next few months to explore potential opportunities in product technology development, service and other areas of collaboration with the potential for a longer-term partnership for the next generation of diesel and natural gas based internal combustion powertrains as well as new powertrain technologies such as electrification.

The statement says that diesel engines will continue to be the powerleader for the foreseeable future in commercial vehicle and off-highway markets and that a long-term partnership would enable both companies to grow globally.