Germany’s Daimler Trucks and Japan’s Toyota have signed a tentative agreement to consolidate their truck manufacturing assets in Japan. informs Reuters.
Under the Memorandum of Understanding, the companies will merge Daimler’s Fuso Truck and Bus and Toyota’s truck manufacturer Hino Motors into one holding company.
According to Daimler Trucks CEO Martin Daum, the companies will engage in joint development, purchasing and production activities, but the sales and logistics of Fuso and Hino will remain separate.
“We are accelerating towards zero emissions, but there is a big challenge and that is the funding needed. There is only one way to achieve this parallel technological development: economies of scale,” said Daum.
It was previously known that Toyota. showed Sports concept based on the Mirai hydrogen sedan.