A new holding company combining Daimler Truck and Toyota Motor Corporation aims to establish “a new strong Japanese truck powerhouse” and strengthen the commercial vehicle business globally through the development of ‘connected, autonomous, shared, electric’ (CASE), vehicles, including hydrogen vehicles.
The deal saw four companies - Daimler Truck AG, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Ltd and Toyota Motor Corporation - conclude Definitive Agreements to integrate Mitsubishi Fuso and Hino under a holding company.
Daimler Truck and Toyota will each aim to own 25 per cent of the new holding company, which will begin operations in April 2026 and be listed in Tokyo.
The new combined company will have over 40,000 employees and the companies say it will have “the scale, resources, and technology leadership to shape the future of the commercial vehicle landscape in the Asia-Pacific region and beyond”.
Karl Deppen, chief executive of Mitsubishi Fuso, is designated chief executive of the new holding company. He said: “Today is a great day for all our stakeholders. We are shaping the industry by bundling our strengths. With a strong new company we combine our two trusted brands, our resources, competencies and expertise to even better support our customers in their transportation needs in the future.”
Mitsubishi Fuso and Hino will integrate on an equal footing in the new company and cooperate in the areas of commercial vehicle development, procurement and production.
Further details on the scope and nature of the collaboration, including the name of the new holding company, will be announced over the coming months.
By integrating Mitsubishi Fuso and Hino Motors, the companies aim to improve business efficiency in areas such as development, procurement and production. They say they expect to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and help to solve issues surrounding commercial vehicles, such as carbon neutrality and logistics efficiency.
Karin Rådström, CEO, Daimler Truck said: “The now decided integration of Mitsubishi Fuso and Hino Motors is truly historic. We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonization of transportation. Together, Mitsubishi Fuso and Hino Motors have great potential to leverage scale – and scale is key to win in the technological transformation of our industry.”
