Mitsubishi Fuso Truck and Bus to merge with Hino under landmark deal

Daimler Truck and Toyota Motor Corporation have signed a Memorandum of Understanding to collaborate on the development of advanced technologies and to merge Mitsubishi Fusu Truck and Bus with Hino Motors.

Under the terms of the agreement, Daimler Truck, MFTBC, Hino, and Toyota will work together to attain carbon neutrality. MFTBC and Hino will collaborate on the design, procurement, and production of commercial vehicles in an equal partnership.

Daimler Truck and Toyota will each invest an identical amount in the holding company of the merged companies.

"At Daimler Truck, we're extremely pleased of our products, as vehicles and buses keep the world moving. Martin Daum, CEO of Daimler Truck, stated in a press release that the company's trucks will shortly operate with zero emissions. "Therefore, a bright future lies ahead, and the announcement made today is a crucial step in making that future economically viable and a leader in sustainable transportation. The proposed new corporation will be a significant influence in Southeast Asia and a vital member of the Daimler Truck family."

"This partnership between our four companies will create the future of commercial vehicles in Japan and the future of the mobility society," said Koji Sato, CEO of Toyota Motor Company. "Our four companies will collaborate with the vision of achieving carbon neutrality by strengthening CASE (Connected/Autonomous & Automated/Shared/Electric) technologies, transforming the future of commercial vehicles, and co-creating the future by addressing social issues."

In the next 18 months, decisions will be made regarding the scope and nature of the collaboration, including the name, location, shareholding ratio, and corporate structure of the new holding company.

Satoshi Ogiso, CEO of Hino, stated, "We will unite our aspirations to support mobility and contribute to society while simultaneously accelerating the development of advanced technology in order to overcome the increasingly fierce global competition." "Through these endeavors, we will attempt to address societal challenges such as carbon neutrality."

Karl Deppen, chief executive officer of MFTBC, added, "This close collaboration will allow us to accelerate the decarbonization of the transportation industry, resulting in an even stronger Japanese commercial vehicle manufacturer." Under the two well-established brands of Fuso and Hino, we will continue to serve the needs of customers throughout Japan, Asia, and the world."