Big news in the world of trucks. No, we’re not talking about pickups. This time around, it’s all about commercial haulers. In a shock move, truck giants (and rivals) Fuso and Hino have agreed to a merger. Involved in the merger are Daimler Truck Holding AG and Toyota Motor Corporation, the parent companies of Fuso and Hino, respectively.
The companies recently signed a Memorandum of Understanding (MoU) on accelerating the development of advanced technologies for the truck sector. The goal is to develop more CASE technologies (Connected / Autonomous & Automated / Shared / Electric) for commercial vehicles in a bid to cut down on emissions and improve logistics.
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Per the MoU, the parent companies (Daimler and Toyota) will have equal investment in the listed holding company of the borne from the merger. On top of developing CASE technologies, the two will also collaborate on hydrogen powertrain development. As for the other Fuso and Hino, the agreement states that the two will merge on equal footing. Fuso and Hino will also work together in the areas of commercial vehicle development, procurement, and production.
“Our four companies will work together with a shared vision of achieving carbon neutrality by strengthening CASE technologies and of changing the future of commercial vehicles and building the future together by solving social issues," said Koji Sato, CEO of Toyota Motor Corporation.
The next 18 months will be vital for the Fuso-Hino merger. The companies involved will be ironing out the scope and nature of the collaboration to form the holding company. Parties involved aim to have ‘definitive agreements’ by the first quarter of next year and seal the deal before the end of 2024.
“The planned new company will be a major force in Southeast Asia and an important associate of the Daimler Truck family," said Martin Daum, CEO of Daimler Truck.
