脱碳压力逼迫卡车厂商重组，日野牵手三菱扶桑

Core Viewpoint - Toyota and Daimler Trucks have reached a final agreement on the operational integration of their subsidiaries, Hino Motors and Mitsubishi Fuso Truck and Bus, driven by the urgency to address decarbonization challenges in the face of stricter environmental regulations and rising competition from companies like BYD and Tesla [1][2]. Group 1 - The integration aims to respond to the crisis of decarbonization, with a strong sense of urgency due to increasing environmental regulations globally [1][2]. - Hino Motors has faced financial difficulties due to compliance issues, leading to the transfer of its Hamura plant to Toyota for approximately 150 billion yen [2]. - Daimler has set a target to reduce CO2 emissions from new large trucks and trailers by 45% by 2030 compared to 2019 levels, with a more stringent goal of 90% reduction by 2040 [2]. Group 2 - Despite a 17% growth in electric trucks and buses, Daimler's overall truck sales are projected to decrease by 12% in 2024 compared to 2023, indicating a challenging market environment [3]. - Toyota's support for Hino is limited, as the expected synergies between passenger and commercial vehicles have not materialized, leading to certification issues [4]. - Hino has recognized the need for partnerships to navigate the rapidly evolving market, especially in the context of geopolitical risks and competition from Chinese manufacturers [4][5]. Group 3 - The competitive landscape for commercial vehicles has intensified, with Chinese companies and Tesla emerging as significant players in the market [5]. - The replacement cycle for commercial vehicles is typically longer than for passenger vehicles, with large trucks often having a replacement cycle exceeding 15 years, adding pressure to meet environmental goals [6]. - The establishment of the new company has been delayed by about two years, raising concerns about the ability to concentrate investments and realize new technologies in a timely manner [6].