Daimler Truck AG, Toyota, and Others Delay their Collaboration Progress
Updates emerged regarding the collaboration between leading automotive companies Daimler Truck AG, Mitsubishi Fuso Truck and Bus Corporation (MFTBC), Hino Motors Ltd. (Hino), and Toyota Motor Corporation (Toyota) in May 2023. The collaboration, originally outlined in a Memorandum of Understanding (MoU), aimed to speed up the development of sophisticated tech and to merge MFTBC and Hino with the primary objectives of achieving carbon neutrality and developing a more prosperous mobility society. This was an exclusive revelation from our trusted sources. The focus of this team-up is to enhance the commercial automobile sector worldwide by cultivating Connected, Autonomous & Automated, Shared, Electric (CASE) technologies.
Equal-Terms Merger Plans
The MoU set forth plans for a merger between MFTBC and Hino to take place on equal terms, backed equally by Daimler Truck and Toyota via investments in the resulting holding company. Despite these ambitious goals however, the actualization of this union has experienced some delays.
Stumbling Blocks for the Merger
Originally, both the signing of the definitive agreement and the completion of the business integration were scheduled to occur by the close of 2024. These objectives, however, have been postponed due to unanticipated complications in the form of ongoing regulatory clearances, much-needed approvals, and comprehensive investigations connected to engine certification issues at Hino.
United in Purpose
Despite these stumbling blocks, the companies remain steadfast in their shared mission. Their primary objective is to improve business efficiency and competitiveness in the commercial vehicle domain. They aim to do this by promoting the advancement of CASE technology, built on a firm foundation of integrity, mutual respect, and diversity. This is their joint commitment to all stakeholders in Japan, Asia, and the entire automobile industry, as exclusively reported by our sources.
