Daimler Truck and Toyota to Merge Japanese Truck Units -- Update

By Dominic Chopping

Daimler Truck and Toyota Motor will merge their Japanese truck units in a move designed to increase efficiencies in development, procurement and production while boosting competitiveness.

Daimler's Mitsubishi Fuso and Toyota's Hino Motors will be combined under a new holding company and listed on the Tokyo Stock Exchange's prime market, the companies said in a joint statement.

The tie-up was originally outlined two years ago, with the companies at the time highlighting plans to pool resources and ease the economic burden of developing new automotive technologies as the industry moves towards more sustainable transport.

"Together, Mitsubishi Fuso and Hino Motors have great potential to leverage scale--and scale is key to win in the technological transformation of our industry," Daimler Truck Chief Executive Karin Radstroem said Tuesday.

The companies are aiming for the new listed holding company to start operations in April 2026, with Daimler and Toyota each targeting a 25% ownership stake.

Karl Deppen, Chief Executive of Mitsubishi Fuso, will head the new holding company.

Further details on the scope and nature of the collaboration, including the name of the new holding company, are expected to be announced in the coming months.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

06-10-25 0543ET