Daimler and Toyota to finalize merger of Fuso and Hino Motors

10 June 2025

Daimler Truck and Toyota Motor announced the conclusion of definitive agreements to integrate Mitsubishi Fuso Truck and Bus Corporation with Hino Motors Ltd. The merger was announced in 2023 but encountered regulatory delays.

Mitsubishi Fuso and Hino will integrate on an equal footing and cooperate in the areas of commercial vehicle development, procurement, and production.

A new holding company will be created, the name of which will be announced at a later time. The combined company will have more than 40,000 employees, becoming a globally competitive Japanese commercial vehicle manufacturer.

The holding company, with Karl Deppen as CEO, will own 100% of Mitsubishi Fuso and Hino Motors. Daimler Truck and Toyota will each aim to own 25% of the holding company. The company will be listed on the Tokyo Stock Exchange and is expected to start operations in April 2026.

The agreement is subject to approval from the relevant boards, shareholders and authorities.

Source: Mitsubishi Fuso