Isuzu Motors Limited (headquartered in Shinagawa, Tokyo and headed by Masanori Katayama, President and Representative Director, hereinafter called “Isuzu”) and General Motors Company (headquartered in Detroit, the U.S.A. and headed by Mary Barra, Chairman and CEO, hereinafter called “GM”) reached an agreement under which GM will transfer the pickup truck business of General Motors South Africa (hereinafter called “GMSA”) to Isuzu Truck South Africa (Pty) Limited (hereinafter called “ITSA”) in order for Isuzu to reinforce its commercial vehicle and pickup truck business in the South African market.
Before the business transfer, Isuzu will purchase from GMSA a 30% equity stake in ITSA, which assembles and distributes Isuzu commercial vehicles, whereby Isuzu will transform the company into its wholly-owned subsidiary with a new company name of “ISUZU MOTORS SOUTH AFRICA (Tentative)”.
Isuzu will further reinforce sales, marketing and after-sales activities for commercial vehicles and pickup trucks to establish a foundation for sustainable, long-term business growth in the South African market.
View full press release here.
