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.

Commercial vehicles support daily life through the movement of people and goods and are an important form of mobility that can be considered "social infrastructure". With this collaboration, the four companies have been seeking a meaningful way to create the future of commercial vehicles. Based on the common desire to "contribute to an affluent society through mobility", the four companies are proceeding with their collaboration and are now pleased to announce the exciting next stage.

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 shall proudly contribute to customers, various stakeholders, and the automotive industry by helping to solve 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. 

"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 even 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."  Karl Deppen, CEO, Mitsubishi Fuso and designated CEO of new holding company

"The collaboration of these four companies is truly a 'once-in-a-lifetime opportunity.' In addition to the business synergies, the synergistic effects arising from the meeting and blending of different cultures and environments are immeasurable. I am confident that we will become a strong and resilient team that empathizes with each other and contributes to society under the same shared aspirations. As a new commercial vehicle company rooted in Japan, we will work together to create an ever better future." Satoshi Ogiso, CEO, Hino.