Mitsubishi Fuso and Hino Merge to Create a Japanese Truck Powerhouse

Toyota Motor Corporation and Daimler Truck have finalized a definitive merger agreement involving their key subsidiaries Mitsubishi Fuso and Hino Motors. This merger is set to form a significant powerhouse in the Japanese truck industry, boasting over 40,000 employees and aiming to influence the commercial vehicle landscape in the Asia-Pacific region. The newly merged company will list on the Tokyo Stock Exchange and begin operations in April of the following year. Under the terms of the agreement, both Toyota and Daimler Truck will each aim to own 25% of the holding company. The integration is expected to increase business efficiency in development, procurement, and production, strengthening the competitive position of Japanese commercial vehicle manufacturers. Key executives including Karin Rådström, Karl Deppen, Satoshi Ogiso, and Koji Sato have signed the agreement and expressed optimism about the collaboration. The merger aims to contribute to technological transformation and the decarbonization of transportation, with an emphasis on creating a sustainable mobility society.