Daimler, MFTBC, Hino, and Toyota Sign Agreement on Hydrogen and Carbon Neutrality

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Updated On: 01-Jun-2023 06:25 AM

Under the terms of the MoU, MFTBC and Hino will work on commercial vehicle development, procurement, and manufacture on equal terms. Toyota and Daimler Truck will make equal investments in the holding entity of the combined firm to support this objective.

Daimler Truck, Mitsubishi Fuso Truck and Bus Corporation (MFTBC), Hino, and Toyota will work together to achieve carbon neutrality and an effective mobility society by developing CASE technologies and strengthening the global commercial vehicle business. CASE is abbreviated for Connected / Autonomous & Automated / Shared / Electric.

Under the terms of the MoU, MFTBC and Hino will work on commercial vehicle development, procurement, and manufacture on equal terms.

Toyota and Daimler Truck will make equal investments in the holding entity of the combined firm to support this objective. They will also work together to develop hydrogen and other CASE technologies, which will boost the new company's competitiveness.

All four companies are united to contribute to society through mobility. Their objective includes encouraging the use of ecologically friendly automobiles and increasing the importance of mobility in global social systems.

By joining forces, MFTBC and Hino will develop synergies and boost Japanese truck manufacturers' competitiveness, so helping to reinforce the foundation of the Japanese and Asian automotive sectors and benefiting their consumers, stakeholders, and society.

Daimler Truck CEO Martin Daum stated that the anticipated new company will be a major force in Southeast Asia and an important member of the Daimler Truck family.

MFTBC CEO Karl Deppen remarked, 'This tight relationship will enable us to advance the decarbonisation of the transportation business, creating an even stronger Japanese commercial vehicle manufacturer.'

On the agreement, Hino CEO Satoshi Ogiso noted that the firms will unify objectives to "support mobility and contribute to society" and, working together, accelerate advanced technology development to confront increasingly severe global competition.