Japanese truck brands have made a major announcement. Fuso Truck and Bus Corporation, a subsidiary of Daimler Truck Holding AG, and Hino Motors Ltd, a subsidiary of Toyota Motor Corporation, have reached an agreement and signed a Memorandum of Understanding (MoU) to collaborate. The purpose of this collaboration is to accelerate the development of advanced technologies. As part of this initiative, Fuso Trucks and Hino Trucks will merge, with the transaction expected to be completed by the end of 2024.

Daimler Truck Holding AG, Fuso Truck and Bus Corporation, Hino, and Toyota Motor Corporation aim to strengthen their global commercial vehicle businesses through the development of CASE (Connected/Autonomous&Automated/Shared/Electric) technologies and work together to achieve their carbon-neutral goals. The merger of Fuso Trucks and Hino Trucks will create a level playing field, enabling cooperation in commercial vehicle development, procurement, production, and other areas. The ultimate goal is to establish globally competitive Japanese truck brands.

Daimler Truck Holding AG, Fuso Truck and Bus Corporation, Hino and Toyota Motor Corporation will work together to achieve a carbon neutral vision by developing CASE to strengthen the commercial vehicle business in the global market. Photo: Courtesy of Daimler Truck

Daimler Truck Holding AG and Toyota Motor Corporation will invest equally in the development of hydrogen or other CASE technologies to enhance the competitiveness of the new company following the merger of Fuso Trucks and Hino Trucks. Through this joint venture, Fuso and Hino will be able to further enhance the product technology of the Japanese truck manufacturer, thereby strengthening its presence in the Japanese or Asian truck market and contributing to its customers and society.

Daimler Truck Holding AG and Toyota Motor Corporation will invest equally in the development of hydrogen or other CASE technologies to enhance the competitiveness of the new company following the merger of Fuso Trucks and Hino Trucks. Photo: Courtesy of Hino

The scope of the future cooperation and other details of the merger between Fuso Trucks and Hino Trucks, such as the name, location, shareholding and structure of the new company, will be confirmed over 18 months. Daimler Truck Holding AG and Toyota Motor Corporation expect to sign a definitive agreement in the first quarter of next year, with a view to completing the final transaction by the end of 2024.