Toyota Motor Corporation and Daimler Truck AG have officially agreed to merge their Japanese commercial vehicle subsidiaries—Hino Motors and Mitsubishi Fuso—into a new combined entity expected by April 2026. Each company will hold a 25% stake in this Tokyo-listed holding company, which will employ over 40,000 people and be led by Mitsubishi Fuso CEO Karl Deppen.
The strategic $6.4 billion deal—delayed due to past compliance issues—is aimed at strengthening research and production capabilities, particularly in clean-energy vehicles like hydrogen and electric trucks. It also scales their presence to better compete with rising Chinese manufacturers in high-growth markets .
By pooling resources, talent, and technology, the merged firm will accelerate investments in sustainable transport solutions while improving procurement efficiency and cost competitiveness .