Toyota and Daimler near merger of truck units, report says

Toyota Motor unit Hino Motors and Mitsubishi Fuso Truck and Bus, a subsidiary of Germany's Daimler Truck, are moving to finalize a merger agreement, Nikkei Asia reported on Tuesday. The two auto groups aim to establish a holding company for the truck units and list it on the Tokyo Stock Exchange's Prime market in April 2026, the report stated, without disclosing its source. They plan to keep their brands separately overseas, a Mitsubishi Fuso spokesperson said. Post-transaction, a new holding company would fully own both Hino Motors and Mitsubishi Fuso, according to the report. Both truck makers have a large exposure to international markets.