Daimler Truck and Toyota have signed a memorandum of understanding for the merger of Mitsubishi Fuso Truck and Bus Corporation (MFTBC), a subsidiary of Daimler, and Hino Motors, a subsidiary of Toyota. Both companies will join on equal terms and work together on the development, procurement and production of commercial vehicles, as well as on the development of new technologies.
Through a statement, it was stated that Mitsubishi Fuso Truck and Bus and Hino Motors they will be concentrated with the same rights in a company, which will be listed in the Prime Market segment of the Tokyo Stock Exchange.
It is worth mentioning that this new company, which will be distributed equally, will have access to Daimler Trucks Technologywhich represents a vast catalog in terms of technology for heavy trucks.
Both Daimler and Toyota will make equal efforts in the development of technologies, such as hydrogen, as well as in the development of new software.
Details about how the new company will be structured, its new name, location, percentage and more will be released over the next 18 months. It is estimated that the signing of definitive agreements will take place in the first quarter of 2024, while the transaction will close at the end of 2024.
