Hino Motors and Mitsubishi Fuso Truck and Bus have announced that they will merge their businesses by the end of 2024. The merger also includes Hino Motors’ parent company Toyota Motor Corporation and Mitsubishi Fuso’s parent company Daimler Trucks, and a basic agreement has been signed.

After the merger, Hino Motors and Mitsubishi Fuso will work together on an equal footing and cooperate in the areas of commercial vehicle development, procurement and production. The purpose of the merger is to become a globally competitive Japanese commercial vehicle manufacturer.

The integration ratio and integration schedule have not been finalized at this time, but we plan to reach an agreement in future discussions. Daimler Trucks and Toyota will share the same shareholding ratio, and Hino Motors and Mitsubishi Fuso will become wholly owned subsidiaries of the integrated company.

The commercial vehicle industry faces challenges such as carbon neutrality and efficient logistics, requiring significant investment. Consolidation is required as commercial vehicle manufacturers will find it difficult to respond on their own.

Daimler Trucks and Toyota plan to collaborate on the development of hydrogen and C.A.S.E (connected, automated driving, sharing, electrification) technologies to support the strengthening of the combined company’s competitiveness.