Having agreed to merge, on June 10, Hino Motors and Mitsubishi Fuso Truck and Bus, along with their parent companies Daimler Truck and Toyota Motor Corporation, signed definitive agreements regarding their business integration. The four companies are entering a new stage on their way to creating the future of commercial vehicles.
Accelerating collaboration toward a hydrogen society
President Sato also touched on working with Daimler Truck in the area of hydrogen.
President Sato
This collaboration has also deepened the partnership between Daimler Truck and Toyota.
Symbolic of this are our efforts in the domain of hydrogen.
We are exploring various possibilities to combine our two companies' technological capabilities and accelerate the social implementation and widespread adoption of hydrogen mobility, including what in-depth collaboration should truly be like.
We will continue to work toward making our efforts a reality.
We believe that the future is for us to build together.
Today's final agreement is not the goal but the starting line.
We will continue striving to deepen mutual understanding while respecting differences in cultures and ways of thinking to make our partnership even better.
Our four companies, aiming to achieve a sustainable mobility society, will continue to create the future of commercial vehicles together.
We greatly appreciate your continued understanding and support. Thank you very much.
Behind the agreement
Following these presentations, the assembled reporters asked about R&D plans in areas such as electrification and automated driving, as well as the companies’ expectations for building a hydrogen society.
When asked what attracted them to the other companies, CEO Rådström of Daimler Truck and Toyota’s President Sato showed their mutual respect.
The pair had taken over the reins of management from their respective predecessors, CEO Daum and Chairman Toyoda. Reflecting on the journey of the past two years, CEO Rådström noted, “It has always been a very strong, respectful collaboration.”
Although negotiations at times proved tough, all sides remained committed to finding the best solution. Having reached a definitive agreement, CEO Rådström described this occasion as “a historic day.”
In response, President Sato explained, “In dealing with us, Daimler Truck has always shown respect for the Japanese commercial vehicle business.” He then continued:
President Sato
Above all, what I would like to say—although I’m not quite sure how to put it—is that former CEO Daum is a real truck guy through and through.
He loves trucks and drives trucks himself. He is a person who brims with a love for trucks.
His successor, CEO Rådström, has a similar passion for trucks.
As you well know, at Toyota our chairman leads the way as a master driver, and I myself also love cars. Aside from us, many people in the company have a love for cars, and that is the environment we work in every day.
Given our sympathy in that regard, it felt like we really clicked instantly.
I think this was the biggest factor in overcoming the difficulties we faced and getting to where we are today.
To create the future of commercial vehicles in Japan, these four companies worked together to overcome their difficulties and forge a strong bond. In doing so, they have taken a bold step forward.