New-Japan Business Consulting
Business strategy reports, business matching and M&A in Japan


Would a merger between Hino and Mitsubishi Fuso be a catalyst for the widespread use of hydrogen?

On 30 May, Toyota and Daimler Truck announced a collaboration to strengthen CASE development in the commercial vehicle sector, including in relation to hydrogen technology. As part of the collaboration, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) and Hino, which are part of both companies, will be integrated on an equal footing. The integration of the two companies aims to increase their competitiveness as Japanese commercial vehicle OEMs by collaborating in the area of production, including vehicle development and procurement.

In the area of electrification, Toyota has been collaborating with Daimler Truck and Hino on FCEV development, and now MFTBC will join this new collaboration. The commonisation of core components such as FC stacks across manufacturers is further progressing, and cost reductions through economies of scale can be expected, leading to the widespread use of FCEVs in the commercial vehicle sector. In addition, the competitive environment in the commercial vehicle market is likely to change, as BEVs, mainly light trucks, are expected to create economies of scale and strengthen product competitiveness by combining the strengths of MFTBC, which excels in this field.

Hino has been in a difficult situation since the diesel engine certification fraud announced in 2022, with its performance deteriorating, but with huge investments required to promote the CASE field, we hope that the synergies from this collaboration will be the catalyst for a revival.