Daimler Truck, Mitsubishi Fuso Truck and Bus Corp. (MFTBC), Hino Motors and Toyota recently concluded a Memorandum of Understanding on accelerating the development of advanced technologies and merging MFTBC and Hino.
Daimler Truck, MFTBC, Hino, and Toyota will collaborate toward achieving carbon neutrality and creating a widening mobility offering by developing CASE technologies (Connected/Autonomous and Automated/Shared/Electric) and strengthening the commercial vehicle business on a global scale, according to the companies.
MFTBC and Hino will merge on an equal footing and collaborate in the areas of commercial vehicle development, procurement and production, the companies note, to develop a competitive Japanese commercial vehicle manufacturer. Daimler Truck and Toyota intend to equally invest through collaborations on the development of hydrogen and other CASE technologies to support the competitiveness of the new company.
Details on the scope and nature of the collaboration including the name, location, shareholding ratio and corporate structure of the new holding company will be decided over the course of the next 18 months, as noted in the recent press release. According to the companies involved, the parties plan to sign definitive agreements in the first quarter of 2024 and aim to close the transaction by end of 2024. Once all companies involved reach an agreement, they will move forward based on the approval of the relevant boards of directors, shareholders and authorities.
