Toyota and Daimler set to combine truck units under new company

Mitsubishi Fuso Truck and Hino Motors to form entity with eye on TSE listing

The businesses of Toyota arm Hino Motors and Daimler-owned Mitsubishi Fuso Truck and Bus are expected to be combined under a holding company by the end of next year. (Photo by Shizuka Tanabe)

SAYUMI TAKE, Nikkei staff writer

May 30, 2023 16:03 JST

Updated on May 30, 2023 21:22 JST

TOKYO -- Toyota Motor and Daimler Truck AG will combine their truck businesses in Japan and share expertise on using hydrogen and next-generation technologies in commercial vehicles as part of efforts to cut carbon emissions.

The businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp. and Toyota subsidiary Hino Motors will integrate their operations from development to production under a new holding company. The four companies are in detailed talks and expect to complete the transaction by the end of 2024. Shares will be held by Toyota, Daimler and others.