The current, third generation rolling stock was manufactured in 1996, and is nicknamed 'Ushiwaka-go Ⅲ' after MINAMOTO no Yoshitsune, whose childhood name was Ushiwakamaru and who studied at Kurama-dera Temple.
車両は1996年製の3代目で幼いころ鞍馬寺で修行した源義経の幼名牛若丸にちなみ「牛若號III」の愛称がついている。