Daimler Truck President and CEO, Karin Rådström; Mitsubishi Fuso Truck and Bus Corporation President and CEO, Karl Deppen; Hino Motors President and CEO, Satoshi Ogiso; and Toyota Motor Corporation President and CEO, Koji Sato, recently concluded Definitive Agreements for the integration of Mitsubishi Fuso and Hino.
With this collaboration, the four companies have been seeking a meaningful way to create the future of commercial vehicles. Based on the common desire to ‘contribute to an affluent society through mobility’, the four companies are proceeding with their collaboration and are now pleased to announce the exciting next stage, according to a press communique.
By integrating Mitsubishi Fuso and Hino Motors, the companies aim to improve business efficiency in areas such as development, procurement and production. With this, they expect to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and strengthen the foundation of the automotive industry in Japan and Asia.
The new holding company will contribute to customers, various stakeholders, and the automotive industry by helping to solve issues surrounding commercial vehicles, such as carbon neutrality and logistics efficiency, while striving to realize a sustainable and prosperous mobility society and to strengthen the commercial vehicle business globally through the development of CASE technologies (Connected, Autonomous, Shared, Electric), including hydrogen, the press statement continued.
Statements
“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,” stated Rådström.
“We believe that the future is for us to build together. Today’s final agreement is not the goal but the starting line. Our four companies, aiming to achieve a sustainable mobility society, will continue to create the future of commercial vehicles together,” noted Sato.
“We are shaping the industry by bundling our strengths. With a strong new company we combine our two trusted brands, our resources, competencies and expertise to even better support our customers in their transportation needs in the future,” observed Deppen.
“Under commonly aimed aspiration, we are confident with building strong and resilient team to empathizing with each other and contributing to society. As a new commercial vehicle company rooted in Japan, we collaboratively create ever better future,” commented Ogiso.
