Company News, International, Transport News

Hino provides update on collaboration

Hino says its collaboration with Daimler, Fuso and Toyota aims to enhance the global commercial vehicle market

Hino Motors has provided an update on its advanced technology development collaboration with Daimler Trucks, Mitsubishi Fuso and Toyota Motor Corporation. 

Hino says the merger between itself and Mitsubishi Fuso has been extended after originally targeting March 2024. 

Hino says the extension is due to the ongoing process of obtaining the necessary regulatory clearances and approvals. 

Since May 2023 the four manufacturers have collaborated on achieving carbon neutrality and strengthening the commercial vehicle business on a global scale based on a Memorandum of Understanding (MoU). 

The MoU also outlines a plan between Mitsubishi Fuso and Hino to merge on an equal footing and collaborate in commercial vehicle development, procurement and production. 

Hino says the companies have been discussing how it can work with Mitsubishi Fuso to improve business efficiency and enhance competitiveness. It’s also discussed how Daimler and Toyota can collaborate on further enhancing their technology development capabilities and promote Connected-Autonomous and Automated/Shared/Electric (CASE) technology across Japan and Asia. 

Hino says merger discussions are progressing on a positive note and that the strategic objectives and logic of the proposed transaction continues to be valid, with the timing of the business integration set to be announced as soon as a reliable timeline for the pending investigations is available. 

Previous ArticleNext Article
Send this to a friend