Daimler Truck and Toyota have officially confirmed the merger of their respective truck brands, Mitsubishi Fuso and Hino Motors.
The two giants hosted an international press conference where they declared a definite agreement to merge the two manufacturers under a new holding company, set to begin operations in April 2026.
The move comes after Daimler Truck and Toyota first signed a memorandum of understanding (MoU) back in May 2023. After months of delays — including fallout from Hino’s emissions data scandal and scrutiny from antitrust regulators — the path to integration has finally cleared.
The upcoming company, yet to be named, will be headquartered in Tokyo and listed on the Tokyo Stock Exchange’s Prime Market. Karl Deppen, current CEO of Mitsubishi Fuso, has been tapped to lead the new entity when it launches.
Under the deal, Daimler Truck and Toyota will each aim to hold 25% of the listed holding company, ensuring equal footing in the new alliance. Mitsubishi Fuso and Hino Motors will merge operations, combining resources across vehicle development, procurement, and manufacturing to cut costs and boost global competitiveness.
“Today is a great day for all our stakeholders,” said Deppen. “With a strong new company we combine our two trusted brands, our resources, competencies and expertise to even better support our customers in their transportation needs.”
Karin Rådström, CEO of Daimler Truck, called the move “truly historic,” emphasizing that the combined scale will help drive the technological transformation toward zero-emission vehicles.
Hino CEO Satoshi Ogiso added that the collaboration offers a “once-in-a-lifetime opportunity” to create a resilient, culturally diverse team that can help shape the future of the commercial vehicle industry.
This integration will create a new axis in Japan’s trucking sector, effectively reshaping the landscape as the Fuso–Hino team goes up against the Isuzu–UD Trucks alliance. With electric trucks and decarbonisation high on the agenda, all eyes will now turn to how this new powerhouse performs in a rapidly evolving global market.
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