The new truck and bus manufacturer should be set up by the end of 2004
By Redação AutoIndústria | 5/29/23 | Translated by Jorge Meditsch
Daimler Truck and Toyota decided to merge their subsidiaries, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) and Hino Motors. The negotiation should be completed by the end of next year, defining the name of the new company, its localization, shareholding proportion and corporate structure.
The intention of Daimler Truck and Toyota is to create a new company able to develop faster the CASE (connected, autonomous, shared and electric) technologies for commercial vehicles on a global scale – among them hydrogen drive – and also produce its own trucks and buses.
The creation of the new company was announced this Tuesday, 5/30. Daimler Truck and Toyota will invest equal amounts in the merged MFTBC and Hino holding, which will be listed on the Tokyo Stock Exchange.
“There is a great future ahead, and today’s announcement is a key step to make this future work functionally and lead sustainable transportation. The planned new company will be a great force in Southeast Asia and an important associate to the Daimler Truck family”, said Martin Daum, Daimler Truck’s CEO.
“This collaboration between our four companies is a partnership to create the commercial vehicle future in Japan and the future of the mobility society”, added Koji Sato, Toyota Motor Corporation’s CEO.
Considering Hino and Fuso’s current workforce, the new company should have about 45 thousand employees. The two merging companies’ yearly joint revenue is nearly US$ 16 billion.
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