The companies Daimler Truck and Toyota Motor Corporation have agreed to pool the resources of their respective Mitsubishi Fuso and Hino Motors brands to create a new holding company that will focus on commercial vehicle development, procurement, and production.
Set to begin operation in April 2026, the holding company plans to own 100 percent of Mitsubishi Fuso and Hino.
Headquartered in Tokyo, Japan, the holding company will have a combined 40,000 employees at hand and will be led by Chief Executive Officer Karl Deppen, currently also the President and CEO of Mitsubishi Fuso Truck and Bus Corporation.
Further details on the scope and nature of the collaboration, including the name of the new holding company, are intended to be announced over the coming months. The deal will proceed to close subject to approval from the relevant boards, shareholders, and authorities.
With this collaboration, the four companies have been seeking a meaningful way to create the future of commercial vehicles.
By integrating Mitsubishi Fuso and Hino Motors, the companies aim to improve business efficiency in areas such as development, procurement, and production. With this, they expect to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and strengthen the foundation of the automotive industry in Japan and Asia.
The new holding company looks to help resolve issues surrounding commercial vehicles, such as carbon neutrality and logistics efficiency, while striving to realize a sustainable and prosperous mobility society and to strengthen the commercial vehicle business globally through the development of CASE technologies (Connected, Autonomous, Shared, Electric), including hydrogen.
New holding company CEO Deppen said, "Today is a great day for all our stakeholders. We are shaping the industry by bundling our strengths. With a strong new company, we combine our two trusted brands, our resources, competencies, and expertise to better support our customers in their transportation needs in the future. I feel honored and excited to be the designated leader of the new company and am grateful for the trust and encouragement from Toyota and Daimler Truck to make it happen."