On June 10, Toyota, Mitsubishi, and Daimler executives signed the agreement to integrate Mitsubishi Fuso and Hino Motors.
Toyota Motor Corporation and Daimler Truck AG have finalized the merger of their respective Japanese truck subsidiaries, Hino Motors Ltd. and Mitsubishi Fuso Truck and Bus Corporation.
The newly formed holding company, headquartered in Tokyo and expected to start operations in April 2026, will probably be jointly owned (25% each) by Toyota and Daimler Truck, and led by current Fuso CEO Karl Deppen. The remaining 50% of shares will probably be publicly traded on the Prime Market of the Tokyo Stock Exchange.
In keeping with company statements, the agreement integrates Mitsubishi Fuso and Hino Motors “on an equal footing,” with a deal with development, procurement, and production efficiencies. The businesses have committed to retaining each brand identities and existing sales networks.
The merger can be seen as a strategic response to rising competition from Chinese OEMs and as a way to speed up investments in zero-emission and autonomous vehicle technologies.
Hino-Fuso Merger’s Domestic & Global Footprint
By way of market presence, Hino and Fuso have historically held small shares within the U.S. industrial truck market. In 2022, Hino accounted for roughly 2.0% of Class 4–7 truck sales within the U.S., while Fuso’s presence relies on legacy units in operation, having ceased latest truck sales within the U.S. and Canada in 2020.
The merger positions the brand new company with an anticipated annual sales volume exceeding 200,000 units.
In 2024, Hino delivered 125,556 industrial vehicles globally, most of which were in Asia, while Daimler Truck’s Asia division, which incorporates Fuso, reported 125,234 industrial vehicle sales in the identical yr. Daimler Truck reported total sales of 460,409 units in 2024.
For fleet operators in North America, the implications center on potential consolidation of truck models where Hino and Fuso previously overlapped and latest opportunities in electrification.
How the Merger Could Affect U.S. Product Availability
While each Hino and Mitsubishi Fuso have relatively small footprints within the U.S. truck market, the merger could bring opportunities for enhanced product offerings.
Hino may gain advantage from Daimler and Fuso’s technological resources in areas like telematics, hybrid drivetrains, or battery-electric upgrades down the road.
Within the Class 3–5 cabover segment, there’s considerable overlap between Hino’s current M Series and Fuso’s former Canter lineup. There could possibly be some consolidation or reintroduction of select Fuso features under the Hino nameplate starting within the 2026–2027 model years.
Electrification could be the most important area of impact. The Fuso eCanter was a Class 4 electric truck that had limited U.S. deployments.
While Hino’s electric versions of its M and L Series are still in early development, the eCanter could possibly be either rebranded under Hino or integrated into its existing distribution network.
Overall, U.S. fleets can expect minimal changes within the short term. Nonetheless, by 2027 and beyond latest product lineup is prone to emerge that mixes Fuso’s engineering strengths with Hino’s established U.S. infrastructure.
This Article First Appeared At www.automotive-fleet.com
