By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Auto Magazine
  • Home
  • Auto Shows
    Auto ShowsShow More
    Driving Trade Forward: AfCFTA, AGOA,BRICS and the Tariffs – All On The Menu At Automechanika CEO Breakfast
    May 9, 2025
    LDV (Maxus as Known in China) Makes a Bold Statement at Shanghai Motor Show
    April 30, 2025
    Upcoming OMODA C3 redefines the crossover with cyber-mecha aesthetics
    April 29, 2025
    Mazda Unveils MAZDA EZ-60 New Electric SUV at Auto Shanghai 2025 
    April 29, 2025
    Chery unveils HIMLA brand at 2025 Shanghai Auto Show
    April 28, 2025
  • Bikes
    BikesShow More
    25YM Honda NC750X
    May 13, 2025
    BMW Motorrad presents the new R 18 models
    January 22, 2025
    BMW Motorrad presents the BMW Concept F 450 GS
    November 5, 2024
    BMW Motorrad presents the new bikes
    November 1, 2024
    24YM HONDA NX500
    October 15, 2024
  • News
    NewsShow More
    MG Cyberster Ignites Simola Hillclimb
    May 15, 2025
    RECORD-BREAKING ATTENDANCE AT JETOUR INTERNATIONAL ANNUAL BUSINESS CONFERENCE
    May 15, 2025
    GWM South Africa showcases at 58th annual NAMPO Harvest Day
    May 15, 2025
    Volkswagen Group Africa welcomes new Sales and Marketing Director
    May 15, 2025
    Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
    May 14, 2025
  • Concepts
    ConceptsShow More
    Audi unveils Q6 e-tron offroad concept
    January 28, 2025
    CITROEN PRESENTS C5 AIRCROSS CONCEPT
    October 15, 2024
    Lotus Unveils Theory 1:  The Future Of Intelligent Performance
    September 23, 2024
    First sketches of Škoda Enyaq RS Race
    May 3, 2024
    W16 Mistral: the art of bringing Bugatti’s ultimate roadster to life
    January 24, 2024
  • EVs
    EVsShow More
    The new Volvo XC70, Volvo Cars’ first extended-range plug-in hybrid
    May 13, 2025
    BYD brings new-energy vehicles to Romania
    May 12, 2025
    Enviro Automotive Unleashes Cutting-Edge 4×4 EVs and Unprecedented Price Reductions
    May 9, 2025
    Mazda Unveils MAZDA EZ-60 New Electric SUV at Auto Shanghai 2025 
    April 29, 2025
    RANGE ROVER ELECTRIC PROTOTYPES EXCEL IN LATEST WINTER TESTING AND DEVELOPMENT CYCLE
    April 25, 2025
  • Motosport
    MotosportShow More
    FIVE DAYS TO GO – THE COUNTDOWN TO THE SOUTH AFRICAN SAFARI RALLY IS ON!
    May 14, 2025
    The Dacia Sandriders ready for South African Safari Rally
    May 14, 2025
    SOUTH AFRICAN SAFARI RALLY THIS WEEKEND
    May 13, 2025
    W2RC HEADS TO THE HEART OF AFRICA FOR LANDMARK ROUND IN SOUTH AFRICA
    May 13, 2025
    SOUTH AFRICAN SAFARI RALLY A HUGE WEEK FOR RED-LINED
    May 13, 2025
  • Trucks & Buses
    Trucks & BusesShow More
    Volvo reaches milestone with 5,000 electric trucks sold worldwide
    April 29, 2025
    HINO ONCE AGAIN ANSWERS FARMERS’ CALL FOR HELP
    April 24, 2025
    Daimler Truck Southern Africa appoints Wolf Edmayr as the General Manager of TruckStore
    March 28, 2025
    ISUZU Motors South Africa Celebrates 60 Years of Isuzu Trucks in South Africa
    March 3, 2025
    Itumeleng Segage, General Manager of Hino South Africa
    HINO SCORES MORE THAN 99% IN ALL FOUR CUSTOMER CARE SURVEY CATEGORIES
    February 5, 2025
  • Reviews
    ReviewsShow More
    All-new Suzuki Dzire is here to please
    May 12, 2025
    ISUZU MU-X Range Refreshed with Increased Luxury, Style and Safety
    May 5, 2025
    Tow Like a Pro with the Ford Ranger
    April 10, 2025
    MEET THE ALL-NEW LEXUS GX: A PREMIUM OFF-ROADER REIMAGINED
    April 8, 2025
    Aston Martin Vanquish Volante: The world’s fastest, most powerful front-engine convertible
    March 29, 2025
  • Tech
    TechShow More
    Chery unveils AiMOGA: Revolutionising the car-buying experience through intelligent robotics
    April 24, 2025
    Volvo Cars uses AI and virtual worlds with the aim to create safer cars
    March 21, 2025
    Chery drives AI innovation with DeepSeek partnership
    March 3, 2025
    Stellantis Unveils STLA AutoDrive
    February 20, 2025
    Mercedes-Benz and Google Partner on AI-powered Conversational Search within Navigation Systems
    January 14, 2025
Hot News
MG Cyberster Ignites Simola Hillclimb
RECORD-BREAKING ATTENDANCE AT JETOUR INTERNATIONAL ANNUAL BUSINESS CONFERENCE
GWM South Africa showcases at 58th annual NAMPO Harvest Day
Volkswagen Group Africa welcomes new Sales and Marketing Director
Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
Latest News

Hyundai Automotive South Africa appoints Stanley Anderson as new CEO

Motosport

NURSE, SCOTT, AND VAN DER MERWE CROWNED GR CUP CHAMPIONS AT KILLARNEY

Latest News

ISUZU renews partnership with the Nelson Mandela University

Latest News

Maybach presents its first Haute Parfumerie collection

Font ResizerAa
The Auto MagazineThe Auto Magazine
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Search
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Follow US
Crafted by Intellegere Media. © 2024 The Auto Magazine. All rights reserved.
Latest News

Daimler Truck, Mitsubishi Fuso, Hino and Toyota conclude an MoU

Itumeleng Garebatshabe
Last updated: May 30, 2023 12:04
By Itumeleng Garebatshabe
469 Views
5 Min Read
Share
5 Min Read
Daimler Truck, Mitsubishi Fuso, Hino und Toyota Motor Corporation unterzeichnen Absichtserklärung zur schnelleren Entwicklung fortschrittlicher Technologien und zur Fusion von Mitsubishi Fuso und Hino Motors (von links nach rechts: Satoshi Ogiso, President and CEO of Hino Motors Ltd.; Koji Sato, President and CEO of Toyota Motor Corporation; Martin Daum CEO of Daimler Truck AG; Karl Deppen CEO of Daimler Truck Asia) Daimler Truck, Mitsubishi Fuso, Hino and Toyota Motor Corporation conclude a MoU on accelerating development of Advanced Technologies and merging Mitsubishi Fuso and Hino Motors (left to right: Satoshi Ogiso, President and CEO of Hino Motors Ltd.; Koji Sato, President and CEO of Toyota Motor Corporation; Martin Daum CEO of Daimler Truck AG; Karl Deppen CEO of Daimler Truck Asia)
SHARE
  • Daimler Truck and Toyota Motor Corporation conclude MoU on accelerating development of advanced technologies
  • MFTBC and Hino to be merged on equal footing
  • Aiming for transaction by end of 2024

Daimler Truck Holding AG (“Daimler Truck”) Mitsubishi Fuso Truck and Bus Corporation (“MFTBC”), Hino Motors Ltd. (“Hino”) and Toyota Motor Corporation (“Toyota”) today concluded a Memorandum of Understanding (MoU) on accelerating the development of advanced technologies and merging MFTBC and Hino.

Collaboration details:

Daimler Truck, MFTBC, Hino, and Toyota will collaborate toward achieving carbon neutrality and creating a prosperous mobility society by developing CASE technologies (Connected/Autonomous & Automated/Shared/Electric) and strengthening the commercial vehicle business on a global scale.

  • MFTBC and Hino will merge on an equal footing and collaborate in the areas of commercial vehicle development, procurement and production. They will build a globally competitive Japanese commercial vehicle manufacturer.
  • Daimler Truck and Toyota will equally invest in the (listed) holding company of the merged MFTBC and Hino. They will collaborate on the development of hydrogen and other CASE technologies to support the competitiveness of the new company.

Common to the corporate philosophies of all four companies is the desire to contribute to a prosperous society through mobility. To continue to be an essential force of transformation in the world, the four companies intend to promote the use of environmentally friendly vehicles and increase the value of mobility in the world’s social systems.

By joining forces, MFTBC and Hino would create synergies and enhance the competitiveness of Japanese truck manufacturers, helping to strengthen the foundation of the Japanese and Asian automotive industries and contributing to their customers, stakeholders and society.

Both Daimler Truck and Toyota count global full lineups tailored to local needs among their corporate strengths and—toward achieving carbon neutrality—value multi-pathways that provide diverse options based on local conditions and how their customers use vehicles.

Martin Daum, CEO of Daimler Truck: “We at Daimler Truck are very proud of our products, because trucks and buses keep the world moving. And soon they will even do so with zero emissions. So there is a great future ahead – and today’s announcement is a crucial step in making that future work economically and in leading sustainable transportation. The planned new company will be a major force in Southeast Asia and an important associate of the Daimler Truck family.”

Koji Sato, CEO of Toyota Motor Company: “This collaboration among our four companies is a partnership for creating the future of commercial vehicles in Japan and the future of mobility society. 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.”

Karl Deppen, CEO of MFTBC:“This close collaboration will enable us to accelerate the decarbonization of the transportation industry, creating an even stronger Japanese commercial vehicle manufacturer. Under the two well-established brands of FUSO and HINO, we will continue to take a leading role in serving customer needs in Japan, Asia and beyond.”

Satoshi Ogiso, CEO of Hino:“We will unite our aspirations to support mobility and contribute to society and, hand in hand, accelerate advanced technology development in order to overcome the increasingly fierce global competition. Through these efforts, we will strive to tackle societal challenges such as achieving carbon neutrality.”

Details on the scope and nature of the collaboration including the name, location, shareholding ratio and corporate structure of the new holding company will be decided over the course of the next 18 months. The parties envisage signing of definitive agreements in the first quarter of 2024 and aim to close the transaction by end of 2024. Once all parties involved reach an agreement, they will move forward based on the approval of the relevant boards of directors, shareholders, and authorities.

TAGGED:Daimler TruckHinoMitsubishi FusoToyota

Sign Up For Daily Newsletter

Stay Updated! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn VKontakte Telegram Email Copy Link Print
Share
ByItumeleng Garebatshabe
Editor
Follow:
Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast

Follow US

FacebookLike
XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow
TelegramFollow
Google NewsFollow
LinkedInFollow

You Might Also Like

Motosport

TOYOTA GAZOO RACING SOUTH AFRICA CELEBRATES SUCCESS AT NKOMAZI 400

By Itumeleng Garebatshabe
April 17, 2023
Trucks & Buses

Daimler Truck appoints Eva Scherer as new Chief Financial Officer

By Itumeleng Garebatshabe
January 11, 2024
Motosport

Tough test for Audi in Morocco

By Itumeleng Garebatshabe
October 17, 2023
Latest News

LAND CRUISER PRADO ON SALE IN SOUTH AFRICA

By Itumeleng Garebatshabe
June 4, 2024
Trucks & Buses

Mercedes-Benz GenH2 Truck cracks 1,000 kilometer mark 

By Itumeleng Garebatshabe
September 27, 2023
Auto ShowsConcepts

Toyota Unveils 2 New bZ Series Models at Auto Shanghai

By Itumeleng Garebatshabe
April 18, 2023

The Auto Magazine

  • Advertise
  • About Us
  • Contact
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Bikes
  • Electric Vehicles
  • Trucks & Buses
  • Auto Shows
  • Latest News
  • Motosport

Crafted by Intellegere Media. All rights reserved. 2024

Don't not sell my personal information
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc.

Zero spam, Unsubscribe at any time.
adbanner