Further notice from Daimler Truck and Toyota: FUSO and Hino merge to be completed after 2024
While the Definitive Agreement for merging MFTBC and Hino was targeted to be signed by the end of March 2024 and integration complete by the end of 2024, the process of obtaining necessary regulatory clearances and approvals is still ongoing. As such, the original schedule (end of 2024) has been extended.
In May 2023, Daimler Truck, Toyota, Mitsubishi Fuso Truck and Bus Corporation (MFTBC), and Hino concluded a Memorandum of Understanding (MoU) on accelerating the development of advanced technologies and merging MFTBC and Hino.
According to the MoU, MFTBC and Hino plan to merge on an equal footing and collaborate in the areas of commercial vehicle development, procurement, and production. The plan is to build a globally competitive Japanese commercial vehicle manufacturer, with Daimler Truck and Toyota investing equally in the (listed) holding company of the merged MFTBC and Hino.
FUSO and Hino to merge: no timeline available yet
While the Definitive Agreement for merging MFTBC and Hino was targeted to be signed by the end of March 2024 and integration complete by the end of 2024, the process of obtaining necessary regulatory clearances and approvals under competition and other laws and regulations, as well as the pending investigations related to Hino’s engine certification issues, are still ongoing. As such, the original schedule has been extended. The timing of the envisaged execution of the Definitive Agreement and the implementation of the business integration will be announced as soon as a reliable timeline for the pending investigations is available.
