White electric bus at a charging station

Hitachi and MUFG Bank Expand NextGen for Fleet Electrification

Overview

Hitachi and MUFG Bank are expanding NextGen, a business co-creation model designed to support the transition to decarbonized mobility. The partnership brings together Hitachi’s technology, operational expertise, and managed services with MUFG’s financial capabilities, helping address two of the biggest barriers to fleet electrification: access to capital and the complexity of integrating energy systems.

Initially validated through a UK pilot project with First Bus, the model uses special purpose vehicle structures to support the procurement and operation of electrification assets. The expanded Memorandum of Understanding extends NextGen, enabling broader deployment globally across electric vehicles, charging infrastructure, and associated energy management systems.

Why This Partnership Matters

Electrifying commercial transport requires significant investment in vehicles, charging, and energy infrastructure. For many fleet operators, the upfront cost of electrification and the operational complexity of managing new energy assets can slow progress. Through NextGen, Hitachi and MUFG Bank are working to make decarbonized mobility easier to finance, deploy, and optimize.

How NextGen Works

Financing structures help reduce upfront capital barriers for fleet and transport operators.
Managed services support asset performance, lifecycle management and operational efficiency.
Digital solutions use data to help optimize batteries, charging infrastructure, and energy systems.

From UK Pilot to Global Opportunity

The partnership has already been validated through a UK pilot project with First Bus. Under a Battery-as-a-Service model, Hitachi and MUFG Bank collaborated via a special purpose vehicle to support the procurement and operation of fleet electrification assets. This helped demonstrate how technical and financial expertise can work together to support the decarbonization of commercial transport.

Building on this foundation, the expanded Memorandum of Understanding, extending NextGen globally and to a wider range of assets. This creates a repeatable model that can support organizations as they look to electrify vehicles and manage the infrastructure required to power them.

“By improving the performance of assets such as batteries and charging infrastructure through Hitachi’s digital services led by HMAX, we can help customers optimize the total cost of ownership. This partnership embodies our One Hitachi approach, leveraging our diverse capabilities across the Group to support customers in achieving their net-zero ambitions.”

Jun Taniguchi, Representative Executive Officer, Executive Vice President and Executive Officer, Hitachi, Ltd. SSIB.

At a Glance

NextGen combines Hitachi’s technology and operational expertise with MUFG Bank’s financial capabilities.
The model was initially validated through a UK pilot project with First Bus using a Battery-as-a-Service structure.
The expanded partnership broadens the model beyond batteries to include electric vehicles, charging infrastructure and energy management systems.
Hitachi and MUFG Bank intend to develop and scale special purpose vehicle structures to finance decarbonized mobility assets.
Hitachi will provide managed services for asset performance and lifecycle optimization, supported by data-driven solutions from Hitachi ZeroCarbon.

Why This Matters For Fleet Operators

What is the Hitachi and MUFG partnership?

The partnership is an expanded Memorandum of Understanding between Hitachi and MUFG Bank to scale NextGen, a business co-creation model that combines technology, operations and finance to accelerate decarbonized mobility.

What problem does NextGen solve?

NextGen helps address limited access to capital and the operational complexity of electrification. It supports investment in vehicles, charging infrastructure, and energy systems while helping operators manage performance and lifecycle optimisation.

Who can benefit from the model?

Fleet and transport operators can benefit from a model that helps finance electrification assets and improve the performance of electric mobility infrastructure. The approach may also support broader energy hubs linked to industrial assets, power grids and data centers.

How does this support a sustainable transport future?

By connecting finance, technology and operations, Hitachi and MUFG Bank are creating a practical model for accelerating fleet electrification. As demand for cleaner transport grows, NextGen offers a scalable approach to help operators deploy the vehicles, charging infrastructure, and energy systems needed for a decarbonised future.