Japanese truck makers Hino. and Fuso . confirmed yesterday that they had signed an agreement to merge their operations on, in Western terms seems like an unusual date, with the two truck makers set to merge on April Fools Day next year, 1 April 2026!
Hino and Fuso said in a statement to the Japanese stock exchange that the will “join forces for survival with the support of their respective parents, Toyota. and Daimler Truck AG”, at a point in time when commercial vehicle makers are needing to spend lots of capital in order to step up development of electrification and self-driving technologies.
Global CEO of Daimler Truck, Karin Rådström, said that the now decided integration of Fuso and Hino is truly historic.
“We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonization of transportation,” said Rådström.
“Together, Fuso and Hino have great potential to leverage scale, and scale is key to winning in the technological transformation of our industry,” she added.
“Karl Deppen is an experienced and strong leader who comprehends the whole value chain of our business, and I’m therefore convinced that he can bring the new company to the next level,” Rådström concluded.
Daimler Truck Australia Pacific president and CEO, Daniel Whitehead said he welcomed the news.
“Fuso has an incredible Australian line-up of advanced diesel and electric trucks, as well as the popular Rosa bus, that are safe, efficient and economical.,” Whitehead said.
“The new structure will ensure Fuso is able to continue to offer such fantastic products to local customers well into the future,” Whitehead added.
“Fuso has been getting the job done for Australians since 1971 and this new development means it will continue to do so for many years to come. We are excited to see what Fuso can achieve with this new structure and congratulate Karl Deppen on his appointment as CEO of the new holding company.”
Hino Australia biss Richard Emery, said that Hino has been proudly selling vehicles to the Australian market for 60 years and currently provides a range of fit-for-purpose trucks centred on quality, technology and safety.
“At the heart of this are our strong partnerships with our loyal customers and dealer partners, the new structure will ensure this continues for many years to come,” said Emery.
“We are excited about this next stage and look forward to continuing as a mainstay of the Australian trucking industry well into the future,” Emery concluded.
The move, which has been on the cards for the past two years since the two automotive giants first revealed the merger plans, will mean that Japan’s commercial vehicle industry will now realign into two blocs, with the Hino-Mitsubishi Fuso coalition on one side and the Isuzu and its subsidiary UD Trucks forming up on the other side.
Toyota and Daimler Truck said they will set up a holding company to control Hino and Fuso, and that this holding company will be headed up by German Fuso CEO,Karl Deppen.
Both Toyota and Daimler Truck said they each plan to hold a 25 per cent stake in the new company, with the proportion of voting rights standing at 19.9 per cent for Toyota and 26.7 per cent for Daimler Truck to conform with competition laws.
