In a groundbreaking move for the commercial vehicle industry, Daimler Truck AG, Toyota Motor Corporation, Mitsubishi Fuso Truck and Bus Corporation, and Hino Motors Ltd. have officially concluded Definitive Agreements to integrate Mitsubishi Fuso and Hino on equal footing. This strategic partnership aims to create a new powerhouse in Japan’s truck sector, set to begin operations in April 2026.
A New Commercial Vehicle Giant
The newly formed holding company, to be headquartered in Tokyo, will bring together over 40,000 employees and leverage cutting-edge resources, technology, and expertise to redefine the commercial vehicle landscape in the Asia-Pacific region and beyond.
Under the agreement, Daimler Truck and Toyota will each own 25% of the listed holding company, which in turn will own 100% of Mitsubishi Fuso and Hino. Plans are underway to list the holding company on the Prime Market of the Tokyo Stock Exchange. Karl Deppen, the current CEO of Mitsubishi Fuso, has been designated as the CEO of the new entity.
Driving the Future of Commercial Mobility
The collaboration is centered on enhancing business efficiency in development, procurement, and production, significantly boosting the competitiveness of Japanese commercial vehicle manufacturers.
By integrating CASE (Connected, Autonomous, Shared, Electric) technologies, including hydrogen-powered vehicles, the company aims to address carbon neutrality challenges, logistics efficiency, and the global evolution of transportation.
Industry Leaders Speak on the Historic Merger
Karl Deppen, CEO of Mitsubishi Fuso and designated leader of the new company, expressed enthusiasm: “Today is a great day for all stakeholders. By combining the strengths of our two trusted brands, we are creating a powerful new entity to shape the future of mobility.”
Satoshi Ogiso, CEO of Hino, emphasized the synergy between the companies, stating: “This collaboration is a ‘once-in-a-lifetime opportunity’ to drive industry innovation and contribute to a stronger commercial vehicle sector.”
Karin Rådström, CEO of Daimler Truck, called the merger “historic,” highlighting the potential for Mitsubishi Fuso and Hino to leverage scale in the push toward decarbonizing transportation.
Koji Sato, CEO of Toyota, underscored the collaborative vision for the future, saying: “Our companies share the ambition of creating a sustainable mobility society, and today’s agreement is just the beginning.”
As Japan and Asia-Pacific embrace sustainable mobility, this merger positions Mitsubishi Fuso and Hino Motors at the forefront of commercial vehicle innovation, strengthening the global automotive industry.
The deal remains subject to shareholder, board, and regulatory approvals, with the new company set to begin operations by April 2026.
