Daimler Truck and Toyota to merge their truck subsidiaries

31 May 2023

Daimler Truck, Mitsubishi Fuso, Hino Motors, and Toyota Motor Corporation concluded a Memorandum of Understanding to merge Mitsubishi Fuso and Hino and to cooperate on CASE technologies (Connected/Autonomous & Automated/Shared/Electric).

Mitsubishi Fuso and Hino will merge on an equal footing and collaborate in the areas of commercial vehicle development, procurement and production. They will build a globally competitive Japanese commercial vehicle manufacturer, the companies said.

Daimler Truck and Toyota will equally invest in the (listed) holding company of the merged Mitsubishi Fuso and Hino. They will collaborate on the development of hydrogen and other CASE technologies to support the competitiveness of the new company.

The value of the investment was not disclosed. Details of the merger, including shareholding ratios, the company name and its structure will be worked out over the next 18 months. The companies aim to sign a definitive agreement by early next year and close the transaction by the end of 2024. The agreement still needs shareholders’ and regulatory approval.

Last year, Hino had been at the center of an emission scandal, where the company submitted fraudulent test data to certify diesel engines equipped with HC-SCR technology.

Source: Daimler Truck