Collaboration of Four Firms, Including Mitsubishi Fuso and Hino Motors, Focuses on Hydrogen Technology and Beyond
The automotive industry is set for a significant shift as Mitsubishi Fuso Truck and Bus Corporation, Hino Motors, Daimler Truck, and Toyota join forces to create a powerful Japanese commercial vehicle company. This four-way partnership is geared towards accelerating decarbonization of the industry, particularly through the development of hydrogen technology and other advanced powertrains [1].
The new holding company, to be established with shares split evenly between Daimler Truck and Toyota, will integrate Mitsubishi Fuso and Hino on equal footing. With over 40,000 employees, the entity aims to shape the future of commercial vehicles in Asia-Pacific and beyond, starting from April 2026 [1].
The alliance's key focus is on advanced technologies, including CASE (Connected, Autonomous, Shared, Electric) technologies. Hydrogen fuel cells are a significant part of the technology portfolio, alongside battery electric vehicles [2]. The goal is to lead the transition to carbon-neutral commercial vehicles by integrating strengths in electrification, hydrogen fuel cells, and connected/autonomous technologies.
The partnership also seeks to strengthen product offerings and service networks, responding to decarbonization challenges by developing e-mobility and hydrogen solutions suitable for different markets. By leveraging scale, the consolidation aims to boost its global presence, especially outside Japan where Chinese competitors are strong [4].
Daimler Truck and Toyota will support the merged companies with CASE technologies, aiming to enhance technical capabilities between them. The merger of Mitsubishi Fuso and Hino is expected to boost synergies and streamline development, procurement, and production [5].
The goal of this collaboration is to achieve carbon neutrality in commercial vehicles, which currently account for 40% of global automotive CO2 emissions [6]. The companies plan to speed up the adoption of hydrogen mobility, beginning with commercial vehicles. Daimler Truck and Toyota have already worked to commercialize products and establish hydrogen infrastructure to promote the widespread use of hydrogen technologies [6].
The success of these technologies depends on their widespread adoption and the capabilities to develop them. The partnership aims to contribute to a better future for commercial vehicles through robust competition [7]. On May 30, Mitsubishi Fuso Truck and Bus (MFTBC) and Hino Motors have agreed to merge, and the merger is expected to be finalized within the fiscal year to March 2024, with the merger to be carried out by the end of that calendar year [8].
In an invitation extended by the CEOs of the merging companies, Mr. Daum, CEO of Daimler Truck, has been invited to share his thoughts on this collaboration, as they discuss shaping the future of commercial vehicles and the partnership [3]. The merger is a step towards establishing the business foundations for competing on the global stage.
[1] BusinessWire [2] Reuters [3] Bloomberg [4] Nikkei Asia [5] Autocar Professional [6] Green Car Congress [7] The Drive [8] MarketWatch
The newly formed Japanese commercial vehicle company, consisting of Mitsubishi Fuso Truck and Bus Corporation, Hino Motors, Daimler Truck, and Toyota, intends to accelerate decarbonization of the industry by focusing on advanced technologies, such as hydrogen fuel cells and battery electric vehicles, as part of their CASE (Connected, Autonomous, Shared, Electric) technology portfolio [1, 2].
The collaboration aims to strengthen product offerings and service networks by developing e-mobility and hydrogen solutions suitable for various markets, in response to decarbonization challenges and with the goal of boosting its global presence, particularly outside Japan [4].
