Badass Truck Titans: Daimler Truck and Toyota Merge Asian Subsidiaries for Global Domination
Daimler Truck and Toyota join forces by combining their truck subsidiaries in the Asian region. - Daimler Truck and Toyota combine their Asian truck subsidiaries.
Listen up, folks! The badasses of the road, Daimler Truck and Toyota, are joining forces to create a beast of a truck company. Their subsidiaries, Mitsubishi Fuso and Hino, are about to become one mighty union.
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This unprecedented alliance aims to take over 25% of the shares each in a soon-to-be-launched holding company, which is planned to list on the Tokyo Stock Exchange come April 2026. That's right, baby, we're talking about a major shake-up in the commercial vehicle market.
Karl Deppen, the leading bullet in Daimler Truck's battalion, will take the reins as the new company's CEO. Deppen's speech was simple yet powerful: "We're combining two heavy-hitters to forge an even more formidable company, ready to crush it in the race for decarbonization."
Now, Toyota's CEO, Koji Sato, kept things concise and to the point: "We must unite forces to shape the future together." Karin Radström, Daimler's roadrunner CEO, went into more detail about the economic benefits of this collaboration, explaining that by merging Mitsubishi Fuso and Hino Motors, they're rolling towards success in the tech-heavy transformation of the industry with economies of scale as their secret weapon.
The partnership was originally announced two years ago, but there were some roadblocks along the way, mainly in the form of engine emissions issues at Hino. But now, shit or get off the pot, Toyota and Daimler aren't messing around.
Last year, Daimler's truck division in Asia, Daimler Truck Asia, sold a whopping 102,870 commercial vehicles, raking in €4.9 billion in revenue and pulling €225 million in earnings before interest and taxes (EBIT). But hold up, folks, the Indian market and the China market, with the Bharat Benz brand and all that jazz, were left out of those numbers, as they've been under the Mercedes-Benz Trucks umbrella since the beginning of 2022.
So strap in, because this joint venture between Daimler Truck and Toyota is about to reshape the commercial vehicle scene in Asia and beyond, blending decades of manufacturing prowess with future-focused innovation.
Got the Scoop:
- The new company will be headquartered in Tokyo and be a result of the merger between Daimler Truck, Toyota, Mitsubishi Fuso, and Hino Motors.
- The joint venture aims to collaborate in key areas like vehicle development, procurement, and production optimization, to accelerate innovation in electrified and autonomous truck technologies.
- Over 40,000 employees are expected to join the team when the new holding company goes live in April 2026.
- The union is set to address current industry challenges like driver shortages in Japan and intensifying global competition.
Stay tuned for more updates, because this is just the beginning of a badass chapter in the world of commercial vehicles!
The new community policy of the multinational truck manufacturing giant, forming from the merger of Daimler Truck, Toyota, Mitsubishi Fuso, and Hino Motors, will focus on vehicle development, specifically in the domain of electrified and autonomous truck technologies, capitalizing on innovation in these areas.
In line with this collaborative effort, vocational training programs will play a crucial role in equipping the anticipated 40,000 employees with the necessary skills to adapt to the tech-heavy transformation of the commercial vehicle industry when the new holding company debuts in April 2026.
