Toyota Signs MoU With Daimler Truck To Merge Japanese Truck Operations

Toyota Motor Corp TM and Daimler Truck Holding AG DTRUY concluded a memorandum of understanding (MOU) to combine their truck operations in Japan.
Daimler Truck and Toyota will equally invest in the (listed) holding company of the merged MFTBC and Hino.
MFTBC and Hino will merge on an equal footing and collaborate in the areas of commercial vehicle development, procurement, and production.
The parties will collaborate toward achieving carbon neutrality and in developing CASE technologies (Connected / Autonomous & Automated / Shared / Electric).
Also Read: Toyota To Turn Coal Mine Into Solar Facility As Part Of Carbon-Neutral Initiative
"This collaboration among our four companies is a partnership for creating the future of commercial vehicles in Japan and the future of mobility society,” said Toyota Motor CEO Koji Sato.
The transaction is expected to be closed by the end of 2024.
Also Read: Toyota's Soaring April Sales: Hybrids and EVs Stealing the Show
Price Action: TM shares traded lower by 0.31% at $139.65 on the last check Tuesday.