Transportation

Toyota, Daimler Finalize Plan to Merge Truck Units in 2026

A Mitsubishi Fuso Truck and Bus Corp. eCanter electric truck.
Photographer: Shoko Takayasu/Bloomberg

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By Nicholas Takahashi

June 10, 2025 at 8:05 AM UTC

Updated on

June 10, 2025 at 10:37 AM UTC

Toyota Motor Corp. and Daimler Truck have agreed to finalize a merger of their truck manufacturing subsidiaries, Hino Motors Ltd. and Mitsubishi Fuso Truck & Bus, under a new holding company by April 2026 as they seek to boost margins and develop new technologies.

Toyota and Daimler will each own a quarter of the holding company, they said in a joint statement Tuesday, confirming their original agreement announced two years ago. Hino will also issue shares and transfer its Hamura plant to Toyota for ¥150 billion ($1 billion).