NAGOYA, Japan -- Toyota Motor and Daimler Truck are closing in on merging their commercial vehicles subsidiaries after nearly two years thanks largely to a shared quest to promote hydrogen fuel.
The two sides are in the final stages of concluding the merger, Nikkei reported Tuesday. A preliminary merger agreement was announced in May 2023 with a goal of being completed the following year. The merger would combine Toyota unit Hino Motors with Daimler Truck subsidiary Mitsubishi Fuso Truck and Bus.
