Truck-maker looks to strengthen its operations ahead of the merger with Hino.

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.

Expcted to be the first hydrogen-powered bus on the market.

Latest system is more durable and fuel-efficient, and cheaper

According to its trials so far, the hybrid system helps extend the range of the Hiace by 20%, increasing it to 250 km compared with models powered solely by a hydrogen engine.

The Hilux Rangga, first unveiled at last year’s Gaikindo Indonesia International Auto Show, is based on the same IMV* platform as exiting Hilux pickup trucks but has a radical new body design.

Both companies are heavily invested in hydrogen as a clean fuel transportation solution.

TMC stated it had completed construction of the US$37m assembly line earlier this year in the Phnom Penh Special Economic Zone in the country’s capital city.

The plan is to start mass production of a battery-powered version of the Hilux pickup truck for Thailand and for export.

Formed in 1996, Toyota had gradually increased its stake in the JV andcurrently holds 80.5% of the shares and Panasonic the remaining 19.5%.

The companies stated that the merger is delayed due to slower than anticipated processes in obtaining the necessary regulatory clearances and approvals under competition and other laws and regulations.

The new Hilux Champ was first unveiled at the Japan Mobility Show in Tokyo during October and went on sale in Thailand, the truck’s largest single market, at the Bangkok International Motor Expo at the end of November.