Plans to bring the Fuso and Hino truck brands together are accelerating with Daimler Truck, Mitsubishi Fuso, Hino and Toyota Motor Corporation now concluding Definitive Agreements for integrating the two brands.

The two truck manufacturers will come together on an equal footing in a new combined company with over 40,000 employees. A new holding company, to be headquartered in Tokyo, is expected to list on the Prime Market of the Tokyo Stock Exchange.

Daimler Truck and Toyota will each aim to own 25% of the (listed) holding company for the integrated Mitsubishi Fuso and Hino. The holding company plans to own 100% of Mitsubishi Fuso and Hino.

The future operations of the integrated brands will include cooperation in the areas of commercial vehicle development, procurement, and production, significantly enhancing the competitiveness of Japanese commercial vehicle manufacturers.

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 closing subject to approval from the relevant boards, shareholders and authorities.

Current Mitsubishi Fuso Truck & Bus Corporation CEO Karl Deppen will take the role of CEO at the new holding company.

“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 in the future,” says Deppen.

“I feel honoured 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.”

The new holding company will focus on issues including carbon neutrality, logistics efficiency, and to strengthen the commercial vehicle business globally through the development of CASE technologies (Connected, Autonomous, Shared, Electric), including hydrogen.

Hino CEO Satoshi Ogiso described the cooperation among the four companies as being a once-in-a-lifetime opportunity while Karin Rådström, CEO, Daimler Truck says the integration of Mitsubishi Fuso and Hino Motors is truly historic.

“We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonisation of transportation,” she says.

“Together, Mitsubishi Fuso and Hino Motors have great potential to leverage scale – and scale is key to win in the technological transformation of our industry.

“Karl Deppen is an experienced and strong leader who comprehends the whole value chain of our business, and I’m therefore convinced that he can bring the new company to the next level,” Radstrom says.

The timeline for the integration is for the holding company to start operations in April 2026.