Japan’s Marubeni Corporation partners with US-based Lithia & Driveway

Through this alliance, Marubeni’s subsidiaries and aftermarket auto parts distributors XL Parts and TPH Holdings will push for expansion of parts business with Lithia & Driveway in North America

Japanese trading company Marubeni Corporation and Lithia & Driveway (LAD), a US-based automotive dealer group, have entered into a Letter of Intent for a strategic alliance to jointly participate in the commercial vehicle fleet management business in North America, expand Marubeni’s automotive-related business, and develop new business in the electric vehicle (EV) field, according to a press release dated 6 September.