Toyota, Daimler Agree to Finalize Merger of Truck Units in 2026
Toyota Motor Corp. and Daimler Truck have agreed to finalize a merger of their truck manufacturing subsidiaries, Hino Motors Ltd. and Mitsubishi Fuso Truck & Bus, under a new holding company by April 2026 as they seek to boost margins and develop new technologies.
Toyota and Daimler will each own a quarter of the holding company, they said in a joint statement Tuesday, confirming their original agreement announced two years ago. Hino will also issue shares and transfer its Hamura plant to Toyota for ¥150 billion ($1 billion).
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