HINO Motors Ltd. (Hino), Toyota Motor Corp. (Toyota), Daimler Truck Holding AG (Daimler Truck) and Mitsubishi Fuso Truck and Bus Corp. (MFTBC) recently concluded the signing of a historical memorandum of understanding (MoU) with the aim of expediting the development of advanced technologies as well as the merging of MFTBC and Hino.

This collaboration seeks to achieve carbon neutrality and foster a prosperous mobility society, with a specific focus on the advancement of CASE technologies and the enhancement of the global commercial vehicle business.

The partnership entails the merging of MFTBC and Hino un- der a new holding company where both have equal footing in terms of investment.

Daimler Truck and Toyota will make equal investments in the merged company’s holding entity. Together, they will also work toward the development of hydrogen and other CASE technologies, thereby bolstering the competitiveness of the new company.

Martin Daum, CEO of Daimler Truck, expressed his pride in the company’s products and highlighted the importance of sustainable transportation.

He emphasized that this collaboration is a significant step toward achieving a future of zero-emission vehicles, economic viability and sustainable transportation.

Daum further stated that the planned new company resulting from the merger will become a major force in Southeast Asia and a valued associate of the Daimler Truck family.

The collaboration between MFTBC and Hino is set to create synergies and strengthen Japanese truck manufacturers, ultimately fortifying the foundations of the Japanese and Asian automotive industries.

Satoshi Ogiso, CEO of Hino, stressed their commitment to supporting mobility and contributing to society.

Koji Sato, CEO of Toyota, underscored the partnership among the four companies is dedicated to shaping the future of commercial vehicles in Japan and transforming the mobility society.

Karl Deppen, CEO of MFTBC, highlighted the collaboration’s potential to expedite the decarbonization of the transportation industry.