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Hino and Mitsubishi Fuso provide merger update

Hino Motors has provided an update on its advanced technology development collaboration with Daimler Trucks, Mitsubishi Fuso and Toyota Motor Corporation.

The vehicle manufacturer says the merger between itself and Mitsubishi Fuso has been extended after originally targeting March 2024.

Hino says the extension is due to the ongoing process of obtaining the necessary regulatory clearances and approvals.

Since May 2023 the four manufacturers have collaborated on achieving carbon neutrality and strengthening the commercial vehicle business on a global scale based on a Memorandum of Understanding (MoU).

The MoU also outlines a plan between Mitsubishi Fuso and Hino to merge on an equal footing and collaborate in commercial vehicle development, procurement and production.

Hino says the companies have been discussing how it can work with Mitsubishi Fuso to improve business efficiency and enhance competitiveness.

They have also discussed how Daimler and Toyota can collaborate on further enhancing their technology development capabilities and promote Connected-Autonomous and Automated/Shared/Electric (CASE) technology across Japan and Asia.

Hino says merger discussions are progressing on a positive note and that the strategic objectives and logic of the proposed transaction continues to be valid, with the timing of the business integration set to be announced as soon as a reliable timeline for the pending investigations is available.

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