Isuzu is ready to step towards carbon neutrality moving forward through the concept of “Multi-pathways” for the customers’ benefit maximization.

Isuzu, as the world’s commercial vehicle leader for more than 8 decades, will implement the carbon neutrality policies at both the global and national levels through the concept of a “Multi-pathways to Carbon Neutrality”, covering product innovation, the new forms of clean energy development, the operation management system and various environmental activities to support carbon neutrality by taking into account various complex and diverse needs to achieve maximum efficiency and benefits to users along with delivering sustainable happiness in entering the carbon neutral society so as to build confidence in dealing with the future automotive world.

Mr. Takashi Oodaira, Managing Executive Officer and Executive Vice President of Carbon Neutral Strategy Division & Engineering Division of Isuzu Motors Limited said that “Isuzu has announced its goal of "Creating the Movement of the Earth” in May last year, recognizing that the automotive industry is in a once-in-a-century period of transformation, and that commercial vehicles too must accelerate their evolution. We are clearly facing societal challenges that we must overcome to add new creativity to the movement of all people and goods on Earth. For example, the urgent need to achieve a carbon-neutral society, zero traffic accident casualties, addressing labor shortages, and improving productivity.”

Isuzu has always provided stable operation and peace of mind to our customers by offering electric vehicles/diesel engines, advanced safety technologies, operational management services, and various after-sales services as product values. We have now defined the following three product values:

○ "Environmental Friendliness":

Our products need to address global challenges like climate change. We have been offering high-efficiency internal combustion engine products to our global customers, but we will further enhance the value of these products through innovative technological development in electrification, creating more environmentally friendly products.

○ "User Friendliness":

The value of "realizing a society where people and goods can be transported safely, securely, and efficiently" is indispensable for commercial vehicles. We have been providing services that are safe, secure, and economically rational for our customers. We will continue to create even safer and more user-friendly products through collaboration with business partners and co-creation activities with customers.

○ "Reliable and Continuous Operation":

We have provided durable and reliable commercial vehicles and supported stable operation through our after-sales service network. We will continue to support the stable growth of regional economies through the provision of products that ensure continuous operation for society as a whole.

Furthermore, Isuzu is advancing the development of a full range of products and solutions to offer "Multi-pathways to Carbon Neutrality" tailored to the needs of customers worldwide. Our "2030 Environmental Roadmap," which aims to deploy electrified products in all categories (CV, LCV, bus) by 2030, is progressing smoothly.

In Thailand, we plan to produce electric pickups for export, starting with those for Europe in 2025 and gradually introducing them in other countries in line with local regulations and CN progress.

Isuzu will invest a total of 1 trillion yen or 240,000 Million Baht in research and development by the fiscal year 2030 to address CN and logistics DX. Among these, we have decided to establish an electric vehicle development and testing facility, "The EARTH Lab", in 2026.

By spinning the wheels of further strengthening existing businesses and aggressive innovation investment, we aim to secure short-to medium-term profits and strengthen the foundation for sustainable growth in the long term. Isuzu will continue to contribute to solving social issues through "Creating the Movement of the Earth," polishing our strengths and steadily advancing the transition to achieving carbon neutrality.

For Isuzu's policy towards carbon neutrality in Thailand, Mr. Takashi Hata, President of Tri Petch Isuzu Sales Co., Ltd., explained that “Thailand is currently an important automotive production base in the world. The annual automobile production reaches 1.8 - 1.9 million units -- the highest volume in ASEAN and is ranked 10th in the world, which is produced for both domestic sales and worldwide export. Almost all of them are Internal Combustion Engines (ICE). In 2023, the export value was as high as 973 billion baht. Pickups and their derivatives as “Product Champion” were the most exported vehicles with 786,383 units, accounting for 70% of all vehicle types.”

From now on, Isuzu, as the leader in commercial vehicles in Thailand, is ready to continue supporting the Thai government's policy of moving towards a carbon neutral society in 2050 and Net Zero greenhouse gas emissions by 2065 as well as supporting Thailand's goal of becoming a center for producing electric vehicles in the ASEAN region through the concept of “Multi-pathways to Carbon Neutrality”.

Offering the products to meet complex consumer needs and different from passenger cars, we have to consider both commercial and personal uses. Therefore, we have developed vehicles that have a “Multi-pathways to Carbon Neutrality” concept that is not only about battery electric vehicles (BEV) or fuel cell electric vehicles (FCEV), but also other energy such as the use of carbon neutral fuel with internal combustion engines, such as new generation biodiesel oil from used plants (HVO - Hydrotreated Vegetable Oil) and synthetic fuel (e-Fuel) for the utmost benefits of Isuzu users as well.

In this event, 4 vehicle models are on display:

• “The Isuzu D-Max EV Concept” is a full-time 4WD system pickup, using the same platform as diesel pickup, with the newly developed “eAxle” dual motors & differential sets working together at the front and rear, combined with an all-new rear suspension - De-Dion, creating confidence on all road conditions, suitable for pickups, balancing between smooth driving and excellent loading capacity. The highlight is the use of 2 high-power electric motors with a combined torque of 325 Nm. The high-output dual electric motors and a robust frame and body design ensure high towing capacity. It is planned to officially start production for export from the Thailand production base in 2025. Keenly aware that customers use pickup for various applications, the Isuzu D-Max EV Concept offers an alternative power source. Launching in selected mainland Europe markets such as Norway in 2025. The Isuzu D-Max EV Concept will be rolled out to the UK, Australia, Thailand, and other countries based on market needs and the maturity of EV charging infrastructure.

• "Isuzu D-Max Hi-Lander MHEV" is a 4-door Proof of Concept (POC) pickup with a system that a turbo diesel engine and a small electric motor work together, by installing a 48V battery, reinforcing the driving power to the 1.9 Ddi Blue Power engine to reduce the engine's workload during starting as well as help to reduce vibration when starting the engine. The motor is installed in front of the engine and connected with the Belted Alternator Starter: BAS. The “Isuzu D-Max Hi-Lander MHEV” is one of the options for customers to reduce CO2. This type of vehicle may be suitable for some customers. We are in the process of surveying the market before determining the next distribution plan.

• Isuzu Elf EV - the EV Truck of “N-Series” was developed under the concept of “Isuzu Modular Architecture and Component Standard : I-MACS” for medium and big trucks in various formats effectively with the design of the "Center Drive System EV" which is specifically a truck design by considering the balance of the vehicle's weight distribution, rear wheel distance and appropriate turning radius which are suitable for light duty work, short run, and requiring the flexibility by using the same platform of diesel trucks. It was launched as the world premiere in Japan in March 2023. Simultaneously, Isuzu is developing rapid battery swapping systems to reduce battery charging time from 2 - 5 battery units for extended transport ranges.

• “Isuzu Elf FCEV” - the medium fuel cell electric truck, jointly developed among the business partners under the Commercial Japan Partnership Technologies Corporation (CJPT) project, suitable for heavy duty work. It can refuel quickly and does not cause pollution, increasing the alternatives of trucks in the market, responding to the need to move towards the era of carbon neutrality. In Japan, 90 units of the Isuzu Elf FCEV were carried out in a test run according to the actual usage, various cities and usage type conditions in January 2023 in Tokyo, Fukushima and Fukuoka. In Thailand, the 4 units were tested from September to November 2023.

Activities to support carbon neutrality

○ Signing a memorandum of understanding to join a scheme to support the use of electric vehicles with the Excise Department to utilize Thailand as a production base for Isuzu electric vehicles for domestic sales and to export worldwide.

○ Signing a memorandum of understanding for cooperation in developing a vehicle testing project with clean energy to reach carbon neutrality between Tri Petch Isuzu Sales, Mitsubishi Corporation with PTT to test Isuzu Elf EV with real users, using electricity from 100% renewable energy through PTT's energy management system, charging system and EV ecosystem. There is also a carbon footprint reduction project for diesel vehicles. The test uses HVO, new generation biodiesel oil from used plants, including collaboration with Mitsubishi Corporation to study and research e-fuels, which are synthetic fuels that help reduce CO2 emissions and can be used in current combustion engines. We will start testing the use of HVO under the actual use conditions together with the leading companies in Thailand in the mid-year. Isuzu believes that this project will bring Thailand to carbon neutrality by creating the least impact on energy infrastructure and transportation networks in Thailand.

○ Apart from the development of automotive technology powered by clean energy to provide environmentally friendly options, Isuzu also places importance on marketing and promotional activities under the concept of “Isuzu Life Cycle Solutions”, supporting Isuzu users by offering solutions in both technology and training to encourage them to utilize effectively, save energy, reduce overall costs, and ready to deliver the best experience throughout the use of the vehicles.

○ Creating energy saving awareness within the Isuzu Group, by renovating the office into an energy-saving building, installing solar panels at manufacturing plants and expanding installations in showrooms nationwide. It has helped reduce CO2 emissions by more than 1,000 tons and reduced electricity usage by more than 50% and many other projects to raise awareness of work in the organization, such as the waste separation project and forestation, etc..

○ Level up the “Isuzu Gives Water...for Life” project in which the Isuzu Group cooperates with the Department of Groundwater Resources, Ministry of Natural Resources and Environment continuously for over 11 years by applying solar energy to the project.

Throughout the 67 years of Isuzu business operations in Thailand, Isuzu has always existed side by side with the Thai society as a good corporate citizen under the business philosophy "Isuzu Spirit" - - “Deliver Happiness, Prosperity to Users and Contribute to Society” through product innovation and various creative activities. We pledge that we will continue to be a part of Thai society in pushing Thailand forward towards the carbon neutrality goals.