Truck marques merge to form new ‘powerhouse’

Daimler Truck and Toyota have agreed to merge their Fuso and Hino businesses into a new Japanese truck powerhouse.

The merger includes plans for a new listed holding company, headquartered in Tokyo and expected to start operation in April 2026.

The company plans to own 100% of Fuso and Hino, with Daimler Truck and Toyota each having a 25% stake. The intention is to list the company on the prime market of the Tokyo Stock Exchange.

The combined company will have over 40,000 employees. Further details on the scope and nature of the collaboration, including the name of the new holding company, are to be announced over the coming months.

Karl Deppen, CEO of Mitsubishi Fuso and designated CEO of the new holding company, said: “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 honoured 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.”

Karin Rådström, CEO of Daimler Truck, added: “We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonisation of transportation. Together, Mitsubishi Fuso and Hino Motors have great potential to leverage scale – and scale is key to win in the technological transformation of our industry.”

Koji Sato, Toyota’s CEO, 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.”