Daimler and Toyota to merge subsidiaries Fuso and Hino
By Luke Willetts - 12th June 2023
CEO's from Daimler Truck, Toyota, Fuso and Hino at a joint press conference
Japan / Germany – Mitsubishi Fuso Truck and Bus Corporation (“Fuso”) (a Daimler Truck subsidiary), headquartered in Kawasaki in Japan’s Kanagawa prefecture, will merge with Tokyo-based Hino Motors Ltd (a subsidiary of Toyota Motor Corporation) into a single Japanese truck entity, following a signed Memorandum of Understanding (MoU). According to Daimler, a definitive agreement is set to be signed in the first quarter of 2024, with the transaction to be completed by the end of 2024, pending legal and regulatory approval.
Whilst details remain sparse, the goal is to unify their efforts in commercial vehicle development, procurement, and production in order to build a globally competitive Japanese commercial vehicle manufacturer. This adds to the consolidation of the international Commercial Vehicle (CV) industry.
