Daimler Truck: to merge Japanese subsidiary MFTBC
(CercleFinance.com) - Daimler Truck today announced that it planned to merge MFTBC, its Japanese commercial vehicle subsidiary, with Hino Motors, that of its rival Toyota.
The MoU unveiled this morning provides for the formation of a new listed company, which would be equally owned by Daimler Truck and Toyota.
The company resulting from this merger would be positioned as a "globally competitive" Japanese manufacturer of commercial vehicles, the companies say.
Daimler Truck and Toyota say they want the new entity to focus on connected, autonomous and electric vehicles, as well as hydrogen.
They plan to sign a definitive combination agreement in early 2024, with a view to completing the transaction by the end of 2024.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The MoU unveiled this morning provides for the formation of a new listed company, which would be equally owned by Daimler Truck and Toyota.
The company resulting from this merger would be positioned as a "globally competitive" Japanese manufacturer of commercial vehicles, the companies say.
Daimler Truck and Toyota say they want the new entity to focus on connected, autonomous and electric vehicles, as well as hydrogen.
They plan to sign a definitive combination agreement in early 2024, with a view to completing the transaction by the end of 2024.
Copyright (c) 2023 CercleFinance.com. All rights reserved.