Toyota concludes MoU on merging Mitsubishi Fuso and Hino Motors
Daimler Truck, MFTBC, Hino, and Toyota will collaborate toward achieving carbon neutrality and creating a prosperous mobility society by developing CASE technologies (Connected / Autonomous & Automated / Shared / Electric) and strengthening the commercial vehicle business on a global scale.
MFTBC and Hino will merge on an equal footing and collaborate in the areas of commercial vehicle development, procurement, and production. They will build a globally competitive Japanese commercial vehicle manufacturer.
Daimler Truck and Toyota will equally invest in the (listed) holding company of the merged MFTBC and Hino. They will collaborate on the development of hydrogen and other CASE technologies to support the competitiveness of the new company.
Common to the corporate philosophies of all four companies is the desire to contribute to a prosperous society through mobility. To continue to be an essential force of transformation in the world, the four companies intend to promote the use of environmentally friendly vehicles and increase the value of mobility in the world’s social systems.
By joining forces, MFTBC and Hino would create synergies and enhance the competitiveness of Japanese truck manufacturers, helping to strengthen the foundation of the Japanese and Asian automotive industries and contributing to their customers, stakeholders and society.
Both Daimler Truck and Toyota count global full lineups tailored to local needs among their corporate strengths and―toward achieving carbon neutrality―value multi-pathways that provide diverse options based on local conditions and how their customers use vehicles.
Details on the scope and nature of the collaboration including the name, location, shareholding ratio and corporate structure of the new holding company will be decided over the course of the next 18 months. The parties envisage signing of definitive agreements in the first quarter of 2024 and aim to close the transaction by the end of 2024. Once all parties involved reach an agreement, they will move forward based on the approval of the relevant boards of directors, shareholders, and authorities.
Information Source: Read More “
Energy Monitors , Electric Power , Natural Gas , Oil , Climate , Renewable , Wind , Transition , LPG , Solar , Electric , Biomass , Sustainability , Oil Price , Electric Vehicles,
