Japan / Germany – T&BB attended (virtually) a press conference in Tokyo yesterday, where it was announced that, pending regulatory approval, 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) under a new joint holding company set to be launched in April 2026. This followed the signing of a Memorandum of Understanding (MoU) by both parties in 2023. This strategic move unites two of Japan’s leading commercial vehicle manufacturers to bolster their global competitiveness. Headquartered in Tokyo, the new entity will be led by Karl Deppen, the President and CEO of Mitsubishi Fuso Truck & Bus Corporation (FUSO).

According to details shared at the press conference, the new Tokyo-based holding company will see Daimler Truck and Toyota each holding a 25% stake, with Hino and Fuso operating as wholly-owned subsidiaries. While both brands will retain their distinct identities and independent sales and dealer networks, the integration of development, procurement, and production is expected to drive significant efficiencies and innovation.

The joint venture's primary focus will initially be Japan and the Asia-Pacific region, with ambitious plans for global expansion. A key driver behind this merger is the accelerated development of CASE Technologies (Connected, Autonomous & Automated, Shared, and Electric). The product pipeline is set to include Fuso’s eCanter, battery electric trucks, hydrogen fuel cell vehicles leveraging Toyota’s HFC technology and advanced autonomous driving systems.

According to Karin Rådström, CEO of Daimler Truck, this merger is a direct response to the intensifying global competition, increasingly stringent emissions regulations, and the rapid shift towards advanced technologies within the commercial vehicle industry. By pooling resources, Hino and Fuso aim to fast-track advancements in electrification, autonomous driving, and connected systems, directly addressing challenges posed by emerging players, particularly from China. This new entity will be listed on the Japanese stock exchange, and the sales organisation globally for Hino and Fuso will remain separate.

T&BB will keep you up to date with this developing story.