Business Toyota and Daimler to combine their truck operations

[thomas]

Massive shake-up in the truck and bus sector: Toyota Motor and Daimler Truck AG will combine their truck businesses in Japan and share expertise on using hydrogen and next-generation technologies in commercial vehicles as part of efforts to cut carbon emissions.

The businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp. and Toyota subsidiary Hino Motors will integrate their operations from development to production under a new holding company. The four companies are in detailed talks and expect to complete the transaction by the end of 2024. He said that Toyota, Daimler and others would hold shares [...] Mitsubishi Fuso and Hino will strengthen competitiveness by integrating and improving business efficiency, while Daimler and Toyota will support the new company by bringing their expertise in CASE technologies. The parties hope to ultimately list the new company on the Prime Market of the Tokyo Stock Exchange.

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Paywall alert:

Toyota and Daimler set to combine truck units under new company

Mitsubishi Fuso Truck and Hino Motors to form entity with eye on TSE listing

asia.nikkei.com

The tie-up involves four companies: Toyota and its scandal-hit subsidiary Hino and Daimler Truck and its subsidiary Mitsubishi Fuso.

Toyota holds a 50.1% stake in Hino. But Hino will no longer be a Toyota subsidiary after it goes under a new holding company alongside Daimler-owned Mitsubishi Fuso Truck and Bus by the end of 2024. Hino is struggling after three straight years of net losses marred by revelations that it faked emissions and fuel economy test data.

Paywall alert:

With Daimler Truck tie-up, Toyota turns outside to rebuild scandal-hit Hino

Scaling up offers a fighting chance as industry shifts to cleaner technology, partners say

asia.nikkei.com

 

[Petaris]

Hino is struggling after three straight years of net losses marred by revelations that it faked emissions and fuel economy test data.

Which is why companies should never be trusted with such a task. It's in their best interest to cheat, especially when there are very few real consequences for doing so. When the consequence can just become a "cost of doing business" it will never change.