Commercial vehicle quartet pools resources for tech development

Commercial vehicle quartet pools resources for tech development

Business news |
By Christoph Hammerschmidt

Together with Daimler Truck Holding AG, Mitsubishi Fuso Truck and Bus Corporation and Hino Motors Ltd., Toyota Motor Corporation plans to accelerate so-called CASE (Connected, Autonomous, Shared, Electrified) technologies for future commercial vehicle generations. As part of the collaboration, Mitsubishi Fuso and Hino are to merge.

One of the goals of the operation is to build a globally competitive Japanese commercial vehicle manufacturer. The merger of Mitsubishi Fuso and Hino will be done on an equal footing, according to a Toyota blog release. The collaboration of the four will result in synergy effects and improved competitiveness, particularly in the development, procurement and production of commercial vehicles. Daimler Truck and Toyota will invest equally in the new listed holding company and collaborate on the development of hydrogen and CASE technologies to promote the new company’s competitiveness.

Further details on the scope and nature of the collaboration, including the name, location, ownership ratio and corporate structure of the new holding company are expected to be finalized over the next 18 months. The parties intend to sign the final agreements in the first quarter of 2024, with the transaction expected to be completed by the end of 2024. Once all parties involved have reached agreement, they will move forward with the merger, subject to the approval of the relevant boards of directors, shareholders and authorities.

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