Toyota, Daimler Merge Hino, Fuso in 2026

Toyota Motor and Daimler Truck have finalized an agreement to merge their Japanese truck subsidiaries, Hino Motors and Mitsubishi Fuso Truck and Bus Corp., under a new holding company set to launch in April 2026 and be listed on the Tokyo Stock Exchange's Prime Market. Both parent companies will each hold a 25% stake in the new entity, which will employ over 40,000 people and be led by Mitsubishi Fuso CEO Karl Deppen. The merger, initially delayed due to Hino's emissions data scandal, aims to boost competitiveness and accelerate innovation in electrification and autonomous driving. The new holding company will focus on operational synergies across development, procurement, and production. Hino will also transfer its Hamura plant to Toyota for ¥150 billion ($1 billion) as part of the arrangement. This alliance is expected to reshape Japan's commercial vehicle sector and advance business efficiency and technological progress.