On June 10, Toyota and Daimler Truck announced that Hino Motors and Mitsubishi Fuso Truck & Bus had reached a final agreement on business integration. The two companies will establish a holding company, with Toyota and Daimler each holding 25% shares. The holding company plans to list in Tokyo by April 2026. Both brands and sales networks will remain independent, aiming to enhance competitiveness in the global commercial vehicle market.
The collaboration originated from a basic agreement in May 2023, but was delayed due to Hino’s engine certification fraud. After resuming talks in 2025, the final agreement was signed in May.
Mitsubishi Fuso, founded in 1932, became part of Mitsubishi Heavy Industries in 1970, and later became an independent company. In 2011, Daimler acquired 89% of its shares, making it a subsidiary of Daimler Truck. Hino, established in 1942, was acquired by Toyota in 2001 and later collaborated on a fuel cell bus.
Toyota and Daimler’s partnership was partly driven by the growing presence of Chinese automakers in Southeast Asia. As the global automotive market moves toward electrification and intelligence, collaboration has become essential. The new company will operate under a “dual brand, single entity” model, integrating R&D and production while maintaining separate sales channels. It is expected to save 3 billion yen annually.
In today’s competitive market, cooperation is key. Future partnerships and alliances may help automakers share resources, develop new technologies, and achieve sustainable growth.
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