Yamaha Motor and Volvo to Set Up Joint Working Groups
In December 2010, the companies had signed an agreement involving technological collaboration relating to the development of electronic control systems for boats. This collaboration is designed to produce technological synergies in the increasingly important field of electronics.
The collaboration became operational at the end of 2011, but the parties have already decided to take things further and conduct joint studies on ways to further extend cooperation between the companies.
The collaboration between Yamaha Motor and Volvo Penta will not include ownership but is based exclusively on partnership in different areas in which the companies see opportunities for cooperation as a result of complementary customer offerings.
Yamaha Motor and Volvo Penta have already agreed on distribution co-operation for Volvo Pentaâ€™s marine engines on the Japanese market and the parties will study if there are such opportunities for similar types of cooperation in other markets.
In North America, Yamaha Motor and Volvo Penta have already cooperated in search for opportunities in marketing to individual boat builders, and they will continue with related efforts.
Service, logistics and aftermarket are other areas in which the parties would like to look at opportunities for extended collaboration. Volvo Penta currently has a dealer network comprising 4,000 service points all over the world. Yamaha Motor is represented in more than 180 countries and regions worldwide.
The existing technological collaboration will result in the companies utilizing common electronic platforms, thereby creating the potential for synergies in terms of diagnostic tools, skills, standardization and aftermarket services.
Goran Gummeson, president and CEO of Volvo Penta, said: â€œVolvo Penta is a world leader when it comes to marine power systems. Yamaha Motor is a world leader in the outboard engine business. Our customer offerings complement one another, so we see tremendous potential for extending our cooperation with a view to creating the marine worldâ€™s most powerful combination.â€
Takaaki Kimura, representative director and senior managing executive officer of Yamaha Motor, said: â€œWe hope that an extended partnership with Volvo Penta, in which we will benefit from the strengths of both companies, will enable us to create a long-term, competitive alliance with unique opportunities to tackle the challenges facing the marine industry.â€
Will the move benefit the firms?
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