The two Japanese manufacturers Hino Motors and Mitsubishi Fuso Truck and Bus Corporation will form a new joint venture, in which their current owners Daimler Truck and Toyota Motor Corporation will each have a share of 25 %.
The announcement of the establishment of a new holding company follows two years of negotiations between Daimler Truck and Toyota Motor Corporation. Mitsubishi Fuso and Hino Motors will work together in areas such as purchasing and production, but also development. In particular, the challenges in the field of alternative drives are considered. In this way they hope to considerably strengthen the competitiveness of the Japanese manufacturers and to consolidate the basis of the car industry in Japan and Asia.
The name of the future holding is not yet known, but that of the future CEO. That will be Karl Deppen, the current CEO of Mitsubishi Fuso. He will manage a group with around 20,000 employees worldwide.
