Shulou(Shulou.com)11/24 Report--

CTOnews.com, May 30, according to the Asahi Shimbun, Hino Motors, a large Japanese truck manufacturer, announced today that it has reached an agreement with Mitsubishi Fuso bus on a merger.

Last year, Hino was exposed to engine fuel efficiency and exhaust emissions fraud, resulting in a sharp decline in the company's performance. The annual report for the fiscal year ended March 2023 showed that Hino Motors' net loss reached an all-time high of 117.6 billion yen (CTOnews.com Note: about 5.927 billion yuan) due to excess loss factors such as compensation to customers and component manufacturers, and the company is in the process of business reconstruction.

According to the latest official announcement, Toyota, the parent company of Hino, and Daimler, the parent company of Mitsubishi Fuso, will have an equal share in the newly formed company, with the goal of completing the integration by the end of next year, according to the latest official announcement.

According to the agreement, the two sides will cooperate in the development, procurement and production of commercial vehicles. Considering that the commercial vehicle industry also needs to make huge investments in areas such as electrification, self-driving and Internet vehicles, the two sides are expected to work together to promote the research and development of decarbonization technology and electric vehicles.

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