kscarbel2 Posted June 10 Share Posted June 10 Financial Times / June 10, 2024 Toyota and Germany’s Daimler Truck have finalized an estimated $6.4bn merger of their heavy truck businesses in Japan in response to growing competition from Chinese rivals racing ahead on electrification and autonomous driving technology. The deal brings together Toyota unit Hino Motors with Daimler Truck subsidiary Mitsubishi Fuso Truck and Bus. It creates a Japanese commercial truck powerhouse that sells more than 200,000 units annually and has greater scale to invest in hydrogen trucks and buses. The merger comes as the global commercial truck industry undergoes a rapid transition towards electric and hydrogen-powered drivetrains and autonomous driving, with China taking the lead. Characterized by long driving ranges, heavy loads and short refueling times, trucking is viewed as a crucial sector for Toyota to create a large market for its hydrogen fuel cells, as cleaner passenger car transport has become dominated by battery-powered electric vehicles. Robin Zeng, the billionaire behind China’s battery champion CATL, forecast last month that half of new trucks sold in China in three years’ time would be electric, underlining the upheaval coming for the heavy truck market. “By bringing together two strong partners, we will create an even more powerful company and advance decarbonisation in transportation,” said Daimler Truck chief executive Karin Rådström. “Scale is the key to winning in the technological transformation of our industry.” The combined entity, led by Mitsubishi Fuso CEO Karl Deppen, divides Japan’s commercial truck manufacturing into two main camps, with Isuzu Motors dominating the other. Toyota and Daimler Truck, the world’s largest truck manufacturer, will hold equal stakes of 25 percent in the holding company, but the Japanese vehicle maker’s voting rights will be lower at 19.9 percent. Jefferies analysts estimate the equity value of the combined entity to be €5.6bn at 11 times earnings before interest and taxes. After a preliminary merger agreement was reached in May 2023, the deal was postponed in February 2024 following an engine data falsification scandal at Hino. At the start of this year, Hino agreed a $1.2bn settlement with the US authorities, leading the truck unit to a record net loss but helping to pave the way for the merger. Since the deal was first announced, both companies have lost ground in the truck market and US tariffs on imports have added to the challenges faced by commercial vehicle manufacturers. The sealing of the deal comes at a time of big upheaval for Toyota, as the world’s largest carmaker prepares to take part in the $33bn take-private of Toyota Industries, one of its key suppliers. Alongside the deal, Hino will transfer ownership of the Hamura plant to Toyota Motor for ¥150bn ($1bn). The merger also adds to the growing collaboration between Japan and Germany on hydrogen. The two companies aim to list the holding company in Japan and start operations by April next year. 2 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/ Share on other sites More sharing options...
RoadwayR Posted June 11 Share Posted June 11 (edited) Not a surprise, I think Toyota has wanted to dump Hino since even before their diesel emissions scandal. Eventually I could see Freightliner pull Hino from the U.S. market. No need for it here other than the LCF's, which could be rebadged as Freightliners. Or Sterling, LOL! Edited June 11 by RoadwayR 2 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577323 Share on other sites More sharing options...
BOBWhite Posted June 11 Share Posted June 11 I'm not too sure about that Hino emissions scandal either. To me it seems like Cummins (or whomever) wanted 100% of the small truck market so they paid some people off to get rid of Hino, notice we only hear about foreign companys having emissions scandals like VW? In any case Hino really made some quality truck in their day from what I've heard, its a shame 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577350 Share on other sites More sharing options...
Bullheaded Posted Saturday at 11:24 AM Share Posted Saturday at 11:24 AM I am surprised Hino did not become more popular. I've said it before, I was a truck show years ago at the Mack booth talking with some dealer people and Mack reps and I overhead them saying they don't know how Hino dealers stay in business because they never sell parts or service because the the trucks are so reliable. 1 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577451 Share on other sites More sharing options...
kscarbel2 Posted 9 hours ago Author Share Posted 9 hours ago On 6/14/2025 at 7:24 AM, Bullheaded said: I am surprised Hino did not become more popular. I've said it before, I was a truck show years ago at the Mack booth talking with some dealer people and Mack reps and I overhead them saying they don't know how Hino dealers stay in business because they never sell parts or service because the the trucks are so reliable. The existence of Hino was all about face, about Toyota having a heavy truck unit. Yes, Hino was the premium Japanese truck brand, and Isuzu the best bang for the buck. When UD was Nissan Diesel, they built a solid truck. Though they've always built good aircraft, Mitsubishi trucks were always an engineering quality disaster. Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577649 Share on other sites More sharing options...
Joseph Cummings Posted 9 hours ago Share Posted 9 hours ago 29 minutes ago, kscarbel2 said: The existence of Hino was all about face, about Toyota having a heavy truck unit. Yes, Hino was the premium Japanese truck brand, and Isuzu the best bang for the buck. When UD was Nissan Diesel, they built a solid truck. Though they've always built good aircraft, Mitsubishi trucks were always an engineering quality disaster. I worked on Hino Diesel powered generator sets. I forget what size but they were 6 cylinder about the size of an ENDT675 Mack. If I remember right they were about 150KW 1800RPM units. What I do remember was the high quality 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577650 Share on other sites More sharing options...
mowerman Posted 9 hours ago Share Posted 9 hours ago Even though I’m not into imports I did like the looks of both UD and hino 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577651 Share on other sites More sharing options...
Joseph Cummings Posted 8 hours ago Share Posted 8 hours ago 1 hour ago, kscarbel2 said: Mitsubishi trucks were always an engineering quality disaster. Their tuna has really slipped in quality over the years too. Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577654 Share on other sites More sharing options...
mechohaulic Posted 8 hours ago Share Posted 8 hours ago On 6/14/2025 at 7:24 AM, Bullheaded said: I am surprised Hino did not become more popular. I've said it before, I was a truck show years ago at the Mack booth talking with some dealer people and Mack reps and I overhead them saying they don't know how Hino dealers stay in business because they never sell parts or service because the the trucks are so reliable. bought brand new in '93 a Hino FA to replace my '77 F=350 flatbed. after checking American made trucks(ford/chevy etc) which needed 40 acres to turn around ; looked into the foreign cab overs=Hino/UD/Isuzu. Hino cost tad more built much better . had the 4 cyl with exhaust brake, room in cab . installed electric PTO instead of very expensive mechanical one. could turn that truck around in a small circle. would have replaced it with the new style Hino if day came . 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577656 Share on other sites More sharing options...
Joseph Cummings Posted 8 hours ago Share Posted 8 hours ago (edited) 41 minutes ago, mowerman said: Even though I’m not into imports I did like the looks of both UD and hino Hino Edited 8 hours ago by Joseph Cummings 2 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577657 Share on other sites More sharing options...
mechohaulic Posted 8 hours ago Share Posted 8 hours ago 13 minutes ago, Joseph Cummings said: Their tuna has really slipped in quality over the years too. sadly it's difficult to find ANY product today that hasn't slipped in quality. loading bales of shaving at the farm . even that has gone bad. bales go from 20lbs apiece to 30plus. opened a heavy weight yesterday it was saw dust , not shavings. where's quality control. people have expensive animals /pay high prices for shavings; don't want saw dust. even if it's delivered by a Hino = (saved the topic LOL) 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577658 Share on other sites More sharing options...
Joseph Cummings Posted 8 hours ago Share Posted 8 hours ago (edited) Strong Diamond-T vibe What do you think about the mirrors? Looks like you can watch them without turning your head Edited 8 hours ago by Joseph Cummings 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577659 Share on other sites More sharing options...
The Heinz Posted 6 hours ago Share Posted 6 hours ago Hino is a weird one to me. Parts of them are reliable, but their emissions system absolutely isn't. The scandal at least benefits the owners, because just about all of the bad egg parts on their truck are covered under warranty programs. From what I know, the pre-emissions Hinos are solid, and I believe it. Even the post-scandal trucks are pretty decent, considering they went with Cummins B6.7's as the powerplant. 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577668 Share on other sites More sharing options...
Joseph Cummings Posted 5 hours ago Share Posted 5 hours ago (edited) Here is a Hino mechanical diesel 13.3L on a Generac 500KW genset. Just doing direct conversion and not accounting for losses that is 670.5HP Realistically it's got to be at least 750HP https://www.bid-on-equipment.com/generators/electric-generators/368333~500-kw-generac-diesel-generator.htm Edited 4 hours ago by Joseph Cummings 1 Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577669 Share on other sites More sharing options...
kscarbel2 Posted 4 hours ago Author Share Posted 4 hours ago 4 hours ago, Joseph Cummings said: Their tuna has really slipped in quality over the years too. I mentioned tuna some time back. Thailand’s Thai Union Frozen Products owns Chicken of the Sea and Orion Seafood International South Korea’s Dongwon owns StarKist The UK’s Lion Capital owns Bumble Bee Foods Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577672 Share on other sites More sharing options...
mowerman Posted 4 hours ago Share Posted 4 hours ago chicken of the sea used to be san diego.....but that doesnt mean thailand doesnt own them,,,,i dont feel comfortable buying imported food,,,,since example china,,,doesnt care if they poison thier own babys,and think absolutely nothing of it,,,thats just scary...ohhh i just started changing the subect,,,, Quote Link to comment https://www.bigmacktrucks.com/topic/75646-japanese-truckmakers-in-6bn-merger-to-fight-chinese-competition/#findComment-577674 Share on other sites More sharing options...
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