Toyota, Daimler Truck Finalise Plan To Merge Mitsubishi Fuso And Hino Motors Under New Holding Company

Mitsubishi Fuso and Hino will merge on equal terms. A new holding company will be created to manage both brands. Toyota and Daimler Truck will each own 25 percent of this company. The new company will own 100 percent of both Mitsubishi Fuso and Hino.

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

The holding company will be based in Tokyo and led by Karl Deppen. It is planned to be listed on the Prime Market of the Tokyo Stock Exchange and begin operations in April 2026.

The companies will cooperate in development, procurement, and production of commercial vehicles. The aim is to reduce costs and improve operations in the commercial vehicle sector. The focus will include technologies such as connected systems, autonomous driving, shared platforms and electric and hydrogen-powered vehicles.

Koji Sato, CEO, Toyota, said, "We believe that the future is for us to build together. Today's final agreement is not the goal but the starting line. Our four companies, aiming to achieve a sustainable mobility society, will continue to create the future of commercial vehicles together."

The deal will proceed after approvals from boards, shareholders and regulators. Additional details, including the name of the new company, will be shared in the coming months.