Hino Motors, Mitsubishi Fuso Agree on Business Integration

The Yomiuri Shimbun

17:24 JST, May 30, 2023

Hino Motors Ltd. and Mitsubishi Fuso Truck and Bus Corp. announced Tuesday that the two truck makers have reached a basic agreement to integrate their operations.

The agreement was signed by four companies, including their respective parents Toyota Motor Corp. and Daimler Truck AG.

According to the announcement, Hino and Mitsubishi Fuso will integrate on an equal footing and cooperate in commercial vehicle development, procurement and production. They will also work together on advanced technologies, including hydrogen-powered trucks.

Last year, Hino was found to have committed data falsifications on engine performance tests. It posted a consolidated net loss of ¥117.6 billion for fiscal 2022, marking its third straight year of red ink.