Daimler Truck AG, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Ltd., and Toyota Motor Corporation have officially signed definitive agreements to integrate Mitsubishi Fuso and Hino Motors, marking a major step toward reshaping Japan’s commercial vehicle industry.
The four companies confirmed the agreement on Wednesday. The deal aims to combine the operations of Mitsubishi Fuso and Hino under a new holding company. Further details, including the new company’s name and operational structure, will be announced in the coming months. The agreement is still subject to approval from relevant boards, shareholders, and regulatory authorities.
Strengthening Japan’s Commercial Vehicle Industry
Commercial vehicles play a vital role in transporting people and goods, acting as a form of “social infrastructure.” The integration is intended to create a stronger and more efficient business by combining development, procurement, and production efforts. The companies believe this will boost the global competitiveness of Japanese truck manufacturers and reinforce the country’s automotive industry—especially across Asia.
The new holding company will focus on addressing major challenges in the commercial vehicle sector, such as carbon neutrality and logistics efficiency. It will also push the development of CASE technologies (Connected, Autonomous, Shared, and Electric), including the use of hydrogen fuel. The goal is to help build a more sustainable and prosperous mobility society, while strengthening the global truck business.
Leadership and Vision
Karl Deppen, current CEO of Mitsubishi Fuso, will lead the new holding company. The four companies emphasized their shared mission to advance sustainable mobility and support society through innovation.
Executive Comments
Karin Rådström, CEO of Daimler Truck, said: “This integration marks a historic milestone. We are uniting two strong players to accelerate the decarbonization of transport. Scale matters, and together, Mitsubishi Fuso and Hino have the potential to compete and lead in this era of change. With Karl Deppen’s deep understanding of the entire value chain, I am confident he will guide the new company to success.”
Koji Sato, CEO of Toyota, said: “This final agreement is just the beginning. It marks the start of our shared journey. We believe in building the future together and will continue working as one team to achieve a sustainable mobility society.”
Karl Deppen, CEO of Mitsubishi Fuso and future CEO of the new company, said: “Today is a proud day for everyone involved. By joining forces, we are creating a stronger company with the combined power of two trusted brands. I’m honored to lead this new venture and grateful to both Toyota and Daimler Truck for their trust.”
Satoshi Ogiso, CEO of Hino, added: “This is a once-in-a-lifetime opportunity. Beyond operational benefits, this collaboration allows us to blend different cultures and ideas. Together, we will build a resilient team that works with shared values and contributes to society as a new commercial vehicle company based in Japan.”
The agreement highlights a major transformation in the commercial vehicle sector, as leading manufacturers come together to address future mobility challenges and build a more sustainable industry.
