Core Viewpoint - The merger between Hino Motors and Mitsubishi Fuso aims to enhance competitiveness in R&D, procurement, and production within the commercial vehicle sector [1][5]. Group 1: Merger Details - Hino and Mitsubishi Fuso will establish a holding company headquartered in Tokyo, with both companies becoming wholly-owned subsidiaries of the new entity [3]. - Daimler Trucks and Toyota will each hold a 25% stake in the new company, which will employ over 40,000 people, with Karl Deppen from Mitsubishi Fuso serving as CEO [3]. Group 2: Factory Transfer - Hino announced the transfer of its vehicle and parts factory located in Hamura, Tokyo, to Toyota, which has been operational since 1963, primarily producing small trucks for both Hino and Toyota brands [4]. Group 3: Previous Agreements - The four companies had reached a preliminary agreement in May 2023 to merge their commercial vehicle operations by the end of 2024, but the final agreement was delayed indefinitely due to Hino's engine certification fraud issue [5].

Group 1 - Toyota's Hino Motors and Daimler's Mitsubishi Fuso Truck and Bus Corporation announced a business merger to enhance competitiveness in the commercial vehicle sector [1][2] - The merger will create a new joint venture company, with Hino and Mitsubishi Fuso becoming wholly-owned subsidiaries, aiming to start operations by April 2026 [1][2] - The new holding company will be based in Tokyo, with Daimler and Toyota each holding 25% of the shares, and the CEO will be Karl Deppen from Mitsubishi Fuso [1][2] Group 2 - The automotive industry is undergoing a transformation with electric and autonomous driving technologies, and Japanese commercial vehicle manufacturers are lagging in next-generation technology development [2] - The merger aims to improve efficiency in R&D, procurement, and production, strengthening the Japanese and Asian automotive industry's foundation [2] - The merger creates two major camps in the Japanese commercial vehicle market: one formed by Mitsubishi Fuso and Hino, and the other by Isuzu and its UD Trucks [2]