Daimler Truck, Mitsubishi Fuso, Hino and Toyota Motor Corporation Conclude Definitive Agreements on Integrating Mitsubishi Fuso and Hino Motors
TOKYO & LEINFELDEN-ECHTERDINGEN, Germany--(BUSINESS WIRE)--Daimler Truck AG (President and CEO: Karin Rådström, hereafter 'Daimler Truck') Mitsubishi Fuso Truck and Bus Corporation (President and CEO: Karl Deppen, hereafter 'Mitsubishi Fuso'), Hino Motors Ltd. (President and CEO: Satoshi Ogiso, hereafter 'Hino') and Toyota Motor Corporation (President and CEO: Koji Sato, hereafter 'Toyota') today concluded Definitive Agreements for the integration of Mitsubishi Fuso and Hino.
Collaboration Details (main points):
Mitsubishi Fuso and Hino will integrate on an equal footing and cooperate in the areas of commercial vehicle development, procurement, and production.
Aiming for new listed holding company to start operations in April 2026.
Daimler Truck and Toyota will each aim to own 25% of the (listed) holding company of the integrated Mitsubishi Fuso and Hino.
The holding company plans to own 100% of Mitsubishi Fuso and Hino.
The intention is to list the holding company on the Prime Market of the Tokyo Stock Exchange.
Holding company CEO: Karl Deppen
Headquarter location: Tokyo (Japan)
Further details on the scope and nature of the collaboration, including the name of the new holding company, are intended to be announced over the coming months. The deal will proceed to closing subject to approval from the relevant boards, shareholders and authorities.
Commercial vehicles support daily life through the movement of people and goods and are an important form of mobility that can be considered "social infrastructure'. With this collaboration, the four companies have been seeking a meaningful way to create the future of commercial vehicles. Based on the common desire to 'contribute to an affluent society through mobility', the four companies are proceeding with their collaboration and are now pleased to announce the exciting next stage.
By integrating Mitsubishi Fuso and Hino Motors, the companies aim to improve business efficiency in areas such as development, procurement and production. With this, they expect to significantly enhance the competitiveness of Japanese commercial vehicle manufacturers and strengthen the foundation of the automotive industry in Japan and Asia.
The new holding company shall proudly contribute to customers, various stakeholders, and the automotive industry by helping to solve issues surrounding commercial vehicles, such as carbon neutrality and logistics efficiency, while striving to realize a sustainable and prosperous mobility society and to strengthen the commercial vehicle business globally through the development of CASE technologies (Connected, Autonomous, Shared, Electric), including hydrogen.
Statements from each company
Karin Rådström, CEO, Daimler Truck: 'The now decided integration of Mitsubishi Fuso and Hino Motors is truly historic. We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonization of transportation. Together, Mitsubishi Fuso and Hino Motors have great potential to leverage scale – and scale is key to win in the technological transformation of our industry. Karl Deppen is an experienced and strong leader who comprehends the whole value chain of our business, and I'm therefore convinced that he can bring the new company to the next level. '
Koji Sato, CEO, Toyota: 'We believe that the future is for us to build together. Today's final agreement is not the goal but the starting line. Our four companies, aiming to achieve a sustainable mobility society, will continue to create the future of commercial vehicles together.'
Karl Deppen, CEO, Mitsubishi Fuso and designated CEO of new holding company: 'Today is a great day for all our stakeholders. We are shaping the industry by bundling our strengths. With a strong new company we combine our two trusted brands, our resources, competencies and expertise to even better support our customers in their transportation needs in the future. I feel honored and excited to be the designated leader of the new company and am grateful for the trust and encouragement from Toyota and Daimler Truck to make it happen.'
Satoshi Ogiso, CEO, Hino: 'Cooperation among these four companies is truly 'once-in-a-lifetime opportunity'. In addition to operational synergy, we can expect immeasurable synergy affection from synthesizing different culture and climate of us. Under commonly aimed aspiration, we are confident with building strong and resilient team to empathizing with each other and contributing to society. As a new commercial vehicle company rooted in Japan, we collaboratively create ever better future.'
Further information on Daimler Truck is available at:
newsroom.daimlertruck.com and daimlertruck.com
Forward-looking statements:
This document contains forward-looking statements that reflect our current views about future events. The words 'aim', 'ambition', 'anticipate', 'assume', 'believe', 'estimate', 'expect', 'intend', 'may',' can', 'could', 'plan', 'project', 'should' and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer preferences; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which are described under the heading 'Risk and Opportunity Report' in the current Annual Report. If any of these risks and uncertainties materializes, or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.
Daimler Truck at a glance
Daimler Truck Holding AG ("Daimler Truck") is one of the world's largest commercial vehicle manufacturers, with over 40 main locations and more than 100,000 employees around the globe. The founders of Daimler Truck have invented the modern transportation industry with their trucks and buses a good 125 years ago. Unchanged to this day, the company's aspirations are dedicated to one purpose: Daimler Truck works for all who keep the world moving. Its customers enable people to be mobile and get goods to their destinations reliably, on time, and safely. Daimler Truck provides the technologies, products, and services for them to do so. This also applies to the transformation to CO2-neutral driving. The company is striving to make sustainable transport a success, with profound technological knowledge and a clear view of its customers' needs. Daimler Truck's business activities are structured in five reporting segments: Trucks North America (TN) with the truck brands Freightliner and Western Star and the school bus brand Thomas Built Buses. Trucks Asia (TA) with the FUSO and RIZON commercial vehicle brands. Mercedes-Benz Trucks (MBT) with the truck brand of the same name and BharatBenz. Daimler Buses (DB) with the Mercedes-Benz and Setra bus brands. Daimler Truck's new Financial Services business (DTFS) constitutes the fifth segment. The product range in the truck segments includes light, medium and heavy trucks for long-distance, distribution and construction traffic and special-purpose vehicles used mainly in the municipal and vocational sector. The product range of the bus segment includes city buses, school buses and intercity buses, coaches and bus chassis. In addition to the sale of new and used commercial vehicles, the company also offers aftersales services and connectivity solutions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tom's Guide
43 minutes ago
- Tom's Guide
I tested Perplexity vs Google AI overview with 7 prompts — the results were shocking
Search is undergoing a profound change. For decades, Google has dominated the web search world, with some 90% of all searches funnelled through the massive Google machine. But suddenly, with the arrival of artificial intelligence, things are starting to change, and seriously so. Not only are people increasingly using AI products like ChatGPT as their default search tool, but companies like Perplexity are also building businesses around search services. The idea is to combine the power of AI analysis with the huge amount of conventional search data available at the end of a cursor. But Google is fighting back. The company has recently released an advanced search function called AI Overviews, which aims to bridge the two disciplines and deliver the kind of informed search results the market demands. It's a new kind of search on steroids. So how do the two approaches compare in everyday use? We take a look at Google's new AI Overviews and compare the results to Perplexity AI, to see which gives a better bang for the buck. Prompt: Summarize the key contributions of John McCarthy, Geoffrey Hinton and Noam Shazeer to the development of artificial intelligence. We thought we'd start with something close to home - a look at the architects of AI from the past. First impressions are that Google delivers a competent but fairly traditional results page from this request. Its answer of 238 words covers all the basic points and gives a good overview of the points as you'd expect. Perplexity delivers over 400 words, but it's more than just the quantity that's impressive. It's the fact that the results are laid out in a much more engaging manner, with the user being encouraged to explore additional information in a variety of different ways. They can explore related data, look directly at the sources and even regenerate the results to get a different perspective. Where Google seems to do the bare minimum, Perplexity really seems to add user value. Get instant access to breaking news, the hottest reviews, great deals and helpful tips. Google 4/10 Perplexity 7/10 Prompt: Create a 3-day itinerary for a first-time visitor to Tokyo on a modest budget. The user is interested in Japanese culture and food, but wants to avoid tourist traps. This is a real kicker, a stark example of the old versus the new. Google completely fails to deliver any meaningful response, but instead retreats to a standard Google search. The answer merely features a selection of third-party websites offering tour advice. This is obviously beneficial to Google as it will no doubt allow it to earn ad revenue. Perplexity, on the other hand, delivers a glorious 1000 words of real down-to-earth itinerary. This includes gorgeous photos, maps and itemized costings, which will be more than enough for the user to get a great idea of the proposed experience. Google 2/10 Perplexity 9/10 Prompt: What is the technology behind noise cancelling headphones? Once again we can see the difference between traditional search results and new style AI analysis, although in this case the difference is not so great. Google's results are very credible with 186 words of explanation, along with a useful YouTube video. Perplexity, however, takes it to a more advanced level. The explanation is roughly the same, but the prose is much more accessible to a layperson. Instead of using the word 'inverse', for example, the app chooses to use simpler English to explain how sound is cancelled. It's a subtle but important use of 500 words to achieve a more understandable answer. Google 6/10 Perplexity 8/10 Prompt: Explain the 'double-dig' method of garden bed preparation and contrast it to no-till farming This is quite an obscure test, involving little-known agricultural techniques. But for gardeners it's a very important topic. Google's response is very workmanlike and informative, and uses 260 words to deliver a good answer to the question. The use of Reddit and the Royal Horticultural Society (RHS) are also great sources, which add authority to the answer. Unfortunately for Google, Perplexity once again matches and exceeds in response quality. The RHS and Reddit are also mentioned, as is YouTube. But two things really make this answer stand out. First, the use of a great table to explain the differences at a glance and, most importantly, a conclusion, which gives a clear indication as to why no-dig is increasingly considered the better solution. Google 7/10 Perplexity 8/10 Prompt: What are the primary compliance challenges for a US-based tech startup under the EU's AI Act? This request pushes search to the limits of topicality and obtuse legal documents. Surprisingly, Google's results are very lackluster. The search engine offers up a 57 word March 2025 'featured snippet' from an obscure third-party publication, and that's it. It shows no interest in digging deeper into the topic for the user. Yet again Perplexity tries harder. We're talking 600 words set in a beautiful bullet point format, running through the main challenges and issues surrounding compliance. Along with 9 easily accessible sources and a handful of related subject matter links. Masterful. Google 2/10 Perplexity 8/10 Prompt: What does the history and potential future of blockchain and cryptocurrency look like? This prompt clearly demonstrates why Google's AI Overview is unfortunately not really ready for prime time. The original prompt was something like 'explain cryptocurrency to a fifth grader', but when tested Google couldn't handle it and served up a lame Quora snippet. It's only when we changed the prompt to this one that AI Overview kicked into action, and delivered a reasonable result. It's obvious there's not that much AI involved in AI Overview yet. Interestingly though, this was probably Google's best result. We got 400 words of densely packed information covering the topic clearly and succinctly. Perplexity was also good, providing 600 words and a nice table. Not much to choose between the two then. Google 8/10 Perplexity 8/10 Prompt: What kind of cat is this? For the final prompt we thought we'd go with something a little more exotic. Both search platforms support image upload, so what better than to upload a friendly looking cat to get some more information? Google takes the uploaded image as a prompt to display a page full of similar images, which aligns with its original image matching search. But a re-prompt of 'what kind of cat is this' then delivered a very short four line answer which, although correct, was not super helpful. Perplexity's response was 246 words, with bullets points, covering coat pattern, fur, and the breed. Even a fun fact (calico cats are almost always female). Engaging and informative. Google 3/10 Perplexity 7/10 The king is dead, long live the king? Based on this showing, the rumors could indeed be true. The mighty Google may in fact be on the way to losing its grip on the world's search traffic. Is this the end of an era? Time will tell. However if there's one thing we've learned over the years, it's never to discount the ability of the Google empire to strike back. Uniquely in the world, the company has the compute power, the data and the legendary AI pedigree to surprise us all. Test Notes. It should be noted that we did not use any of the advanced Perplexity functions, but kept to the basic default service. Which make the results even more impressive. It's also important to recognize the fact that AI can get things wrong. Both services feature disclaimers which stress that users should not assume AI search responses are factually correct. This is an early technology finding its feet, users should take care.
Miami Herald
3 hours ago
- Miami Herald
Honda Launches Killer Civic Hybrid Lease Offer for June
The Honda Civic is one of the most popular compact cars on the road and is largely known for its practical design and impressive efficiency. The Honda Civic Hybrid breaks into the industry with an affordable starting price and even higher fuel economy than the gas-only model. This June, the Japanese automaker is making it incredibly affordable to park a new Civic Hybrid in your garage. These lease offers are a steal, with a monthly payment as low as $309 per month. This particular lease deal also requires $3,599 down and a 36-month term. The Honda Civic Hybrid is a new addition to the range for the 2025 model year. It comes available in both sedan and hatchback body styles, both of which share the same hybrid powertrain. The standard equipment list is similar across both Civic Hybrid models, but the hatchback offers more interior space. The 2025 Honda Civic Hybrid comes in two trim levels, Sport Hybrid and Sport Touring Hybrid, but it's the former that's subject to the best lease deals. The 2025 Honda Civic Hybrid comes powered by a 2.0-liter four-cylinder engine paired with two electric motors. Unfortunately, dual electric motors don't mean the compact hybrid boasts all-wheel drive. All 200 horsepower and 232-lb-ft of torque are channeled to the front wheels via an E-CVT. The sedan model earns the best fuel economy of the two, up to 50 mpg in the city and 47 on the highway. The hatchback model earns identical fuel economy in the city, but highway efficiency drops to 45 mpg. Regardless of body style, the Honda Civic Hybrid rolls out on athletic 18-inch wheels that pair well with full LED lighting. Heated, gloss-black side mirrors come standard, and the sedan model gets black upper window trim as well. Heated front seats are a standard amenity in all Civic Hybrid models, complemented by dual-zone automatic climate control and rear-seat vents. Notably, the Civic Sedan Sport Hybrid comes equipped with a leather-wrapped steering wheel. As for tech, the Honda Civic Hybrid comes ready to keep the good times rolling, with a seven-inch touchscreen display front and center. Apple CarPlay and Android Auto connectivity come standard, along with an eight-speaker audio system. Naturally, the 2025 Honda Civic Hybrid comes equipped with some of the industry's top safety systems, including road departure mitigation, lane keeping assist, and traffic sign recognition. The Honda Civic Sedan and Hatchback Sport Hybrid models share similar lease deals that appear to be available throughout the continental United States. The Civic Sedan Sport Hybrid is available for as little as $309 per month and $3,599 due at signing. You can get into a Civic Hatchback Sport Hybrid for just $10 more per month, bringing your monthly payment to $319, with the same $3,599 down payment. If you prefer to reduce your upfront costs, you may qualify for a $0 down payment deal. If you spread the $3,599 down payment over a 36-month term, you need to add roughly $99.98 to your monthly payment. That brings the Civic Sedan Hybrid's payment to $408.98 per month. The Civic Hatchback Hybrid will cost you $10 more per month, bringing the total monthly payment to approximately $418.98. These lease deals span a 36-month term with an annual 10,000-mile allowance. If you want to get behind the wheel of a Civic Hybrid, don't dawdle, as these lease offers are only valid through July 7th. The 2025 Honda Civic Hybrid combines an impressive 200-horsepower powertrain with incredible efficiency of up to 50 mpg in the city. Combined with an affordable monthly payment thanks to a killer lease deal, there's never been a better time to put the compact hybrid in your driveway. Get an official estimate directly from Honda by July 7th to see if you qualify for these lease offers! Lease offers may vary according to location, vehicle configuration, and are subject to credit approval. Advertised monthly payments don't necessarily include taxes, title, registration, or other fees. To learn more about your local 2025 Honda Civic Hybrid lease deals, visit the official Honda website and enter your zip code. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
18 hours ago
- Yahoo
Nippon Steel Closes $14.1 Billion Acquisition of US Steel
Nippon Steel closed its $14.1 billion takeover of United States Steel, bringing to an end an 18-month effort to combine the American and Japanese steelmakers, the companies said in a Wednesday statement. Joe Deaux reports on "Bloomberg Open Interest." Sign in to access your portfolio
