Hitachi, Ltd. and MUFG Bank have announced a new Memorandum of Understanding (MoU) to scale “NextGen,” their collaborative business model designed to drive the transition to decarbonised mobility. The agreement builds on a successful UK pilot project with First Bus and aims to expand the initiative into new international markets and a broader range of asset classes, including electric vehicles, charging infrastructure, and energy management systems.
By combining Hitachi’s technological expertise with MUFG’s financial capabilities, the partnership seeks to remove capital barriers for fleet operators. The initiative will also leverage “One Hitachi” digital solutions and AI-driven data from Hitachi ZeroCarbon to optimise asset lifecycles. Furthermore, a new MoU with Norwegian transport operator Boreal Norge AS marks the first step in this international expansion, focusing on the electrification of bus and ferry fleets.
Jun Taniguchi, CEO of Strategic SIB Business Unit at Hitachi, stated: “We are delighted to advance this partnership which combines Hitachi’s deep expertise in social infrastructure and digital technologies with MUFG Bank, Ltd.’s financial strength to accelerate the transition to a decarbonised society. By improving the performance of assets such as batteries and charging infrastructure through Hitachi’s digital services led by HMAX, we can truly help customers optimise the total cost of ownership.”
Masakazu Osawa, Senior Managing Executive Officer at MUFG Bank, added: “Building on MUFG’s Business Co‑Creation and Investment approach, this collaboration with Hitachi aims to create value through strategic partnerships that improve society and the environment. For the global EV market, our focus is not only on strengthening Hitachi’s leading position in Battery as a Service, but also on fostering a holistic value chain — including second‑life battery markets — that supports the acceleration of electric mobility and the achievement of 2050 net‑zero targets.”
Nikolai Knudsmoen Utheim, Group CEO of Boreal Norge AS, commented: “In exploring how we can unlock the power of electrified fleets, we can not only deliver more sustainable operations, but upgrade our infrastructure and thread technology across our entire business model for more efficient, smart transport and energy management.”
