Daimler Truck AG and Toyota Motors Corporation announced plans Tuesday to integrate the Mitsubishi Fuso and Hino Motors brands on equal footing under a new holding company.
By integrating Mitsubishi Fuso and Hino Motors, the companies aim state they to improve business efficiency in areas such as development, procurement and production. With this, they expect to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and strengthen the foundation of the automotive industry in Japan and Asia.
Karl Deppen will be the CEO of the holding company, which the organizations hope will start operations in April 2026. The holding company will own 100% of Fuso and Hino, with Daimler Truck and Toyota each aiming to own 25% of the holding company.
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“The now decided integration of Mitsubishi Fuso and Hino Motors is truly historic. We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonization of transportation,” says Karin Rådström, CEO at Daimler Truck. “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. Karl Deppen is an experienced and strong leader who comprehends the whole value chain of our business, and I’m therefore convinced that he can bring the new company to the next level.”
Adds Toyota CEO Koji Sato, “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 new combined company will have more than 40,000 employees globally with the scale, resources and technology leadership to shape the future of the commercial vehicle landscape in the Asia-Pacific region and beyond, the companies add.
“Today is a great day for all our stakeholders. We are shaping the industry by bundling our strengths,” says Deppen. “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.”
