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The birth of HUNO

 

Daimler Truck, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors and Toyota Motor Corporation have concluded a Memorandum of Understanding (MoU) on merging the Fuso and Hino brands. 

 

Hino Motors Chief Executive Satoshi Ogiso, Toyota Motor Corp. President and Chief Execu-tive Koji Sato, Daimler Truck Chief Executive Martin Daum and Mitsubishi Fuso Truck and Bus Corporation Chief Executive Karl Deppen after their joint news conference in Tokyo, Japan, on May 30, 2023. (Reuters)

 

Product related effects of the proposed merger are unlikely in the short term, particularly in the case of the relatively low-tech 4×4 variants that are of main interest to OTA website visitors. Also, the merged brands will need to pull something magical out of their collective hat if they intend to displace Isuzu’s NPS and NLS trucks that dominate the Australian-market light 4×4 category, with around 70-percent of sales.

Fuso is owned by Daimler Truck and Hino is owned by Toyota. Neither brand has been a shining light for its owners: Fuso isn’t making much profit – earnings before taxes and interest well down in recent years – and Hino embarrassed Toyota with its well reported, long-term emissions fraud. 

The jointly issued press release stated that Daimler Truck, MFTBC, Hino and Toyota will collaborate toward achieving carbon neutrality and creating a prosperous mobility society by developing CASE technologies (Connected, Autonomous and Automated, Shared, Electric) and strengthening the commercial vehicle business on a global scale.

MFTBC and Hino will merge on an equal footing and collaborate in the areas of commercial vehicle development, procurement and production,’ the release said.

‘By joining forces, MFTBC and Hino would create synergies and enhance the competitiveness of Japanese truck manufacturers, helping to strengthen the foundation of the Japanese and Asian automotive industries and contributing to their customers, stakeholders and society.’

Details on the scope and nature of the collaboration including the name, location, shareholding ratio and corporate structure of the new holding company will be decided over the course of the next 18 months.

The parties envisage signing of definitive agreements in the first quarter of 2024 and aim to close the transaction by the end of 2024. 

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