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.

Production is to take place at Temsa’s factory in Adana, with a prototype expected by next year and series production towards the end of 2025. Both engineering teams will be working closely together in order to meet these deadlines.

Toyota Tsusho Nexty Electronics Europe GmbH will supply Toyota’s proprietary fuel cell to Pepper Motion, including auxiliary components.

The agreement between Toyota and Komatsu is to further enhance safety in mineral extraction operations. Komatsu has so far deployed 650 heavy duty mining trucks with its Autonomous Haulage System ()at 22 mining sites in five different countries,

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.

Both companies will be making Class 8 electric trucks using fuel cell drive systems developed by Japanese firm Toyota, with Kenworth aiming to begin customer deliveries next year.

The dissolution decision follows a meeting of the Hino board on April 26, 2023.