Daimler Truck and Toyota definitely agree on FUSO-Hino merge
A new company will be set in 2026, headquartered in Tokyo, and will be listed at the Tokyo Stock Exchange. Karl Deppen, current Mitsubishi FUSO CEO, will lead the company, at first. Further details on the scope and nature of the collaboration, including the name of the new holding company, are intended to be announced over the coming months.
Daimler Truck and Toyota held an international press conference, announcing that the two groups have definitely agreed on integrating Mitsubishi Fuso and Hino Motors. The intention was expressed at first a couple of years ago, in May 2023, when an MoU was signed.
Now, Mitsubishi FUSO and Hino will integrate on an equal footing and cooperate in the areas of commercial vehicle development, procurement, and production. Also, new listed holding company to start operations in April 2026. In terms of shares, Daimler Truck and Toyota will each aim to own 25% of the (listed) holding company of the integrated Mitsubishi Fuso and Hino.
FUSO and Hino will give life to a brand-new company
The new company will have its headquarters in Tokyo, and will be listed at the Tokyo Stock Exchange. Karl Deppen, current Mitsubishi FUSO CEO, will lead the company, at first. Further details on the scope and nature of the collaboration, including the name of the new holding company, are intended to 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. With this, they expect to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and strengthen the foundation of the automotive industry in Japan and Asia.
The official statements
“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. I feel honored and excited to be the designated leader of the new company and am grateful for the trust and encouragement from Toyota and Daimler Truck to make it happen”, stated Karl Deppen.
“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”, added Karin Rådström, CEO, Daimler Truck.
“Cooperation among these 4 companies is truly “once-in-a-lifetime opportunity”. In addition to operational synergy, we can expect immeasurable synergy affection from synthesizing different culture and climate of us. Under commonly aimed aspiration, we are confident with building strong and resilient team to empathizing with each other and contributing to society . As a new commercial vehicle company rooted in Japan, we collaboratively create ever better future”, said Satoshi Ogiso, CEO, Hino.
