L-R: Koji Sato, CEO, Toyota Motor Corporation; Satoshi Ogiso, CEO, Hino Motor Corporation; Karl Deppen, CEO, Mitsubishi Fuso & designated CEO of new holding company and Karin Radstrom, CEO, Daimler Truck.

In a landmark move for Japan’s commercial vehicle sector, Mitsubishi Fuso Truck and Bus Corporation and Hino Motors have signed definitive agreements to integrate their operations. The merger will take place under a new holding company set to be established by April 2026, with Tokyo as its headquarters.

The new combined entity will have over 40,000 employees with the scale, resources and technology leadership to disrupt the commercial vehicle landscape in the Asia-Pacific region and beyond. It will own 100 percent of Mitsubishi Fuso and Hino Motors.

The integration is the result of a collaboration between four major automotive players: Daimler Truck AG, Mitsubishi Fuso, Hino Motors and Toyota Motor Corporation. Both Daimler Truck and Toyota plan to acquire a 25 percent stake each in the newly listed holding company, which will in turn fully own Mitsubishi Fuso and Hino. The new entity is expected to be listed on the Prime Market of the Tokyo Stock Exchange, with Karl Deppen, current CEO of Mitsubishi Fuso, appointed as CEO of the holding company.

The partnership is designed to bring Mitsubishi Fuso and Hino together on an equal footing, with joint efforts across commercial vehicle development, procurement and production. It aims to enhance operational efficiency, improve global competitiveness and bolster the automotive industry across Japan and Asia.

The alliance underscores the companies’ shared vision of supporting society through sustainable mobility. A key focus of the integration will be addressing the urgent challenges facing the commercial vehicle industry, including decarbonisation, logistics efficiency and the development of CASE technologies (Connected, Autonomous, Shared and Electric mobility) alongside the adoption of hydrogen solutions.

Karin Radstrom, CEO, Daimler Truck, said, “The now decided integration of Mitsubishi Fuso and Hino Motors is truly historic. We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonisation of transportation. Together, Mitsubishi Fuso and Hino Motors have great potential to leverage scale – and scale is key to win in the technological transformation of our industry. Karl Deppen is an experienced and strong leader who comprehends the whole value chain of our business and I’m therefore convinced that he can bring the new company to the next level.”

Koji Sato, CEO, Toyota Motor Corporation, said, “We believe that the future is for us to build together. Today’s final agreement is not the goal but the starting line. Our four companies, aiming to achieve a sustainable mobility society, will continue to create the future of commercial vehicles together.”

Karl Deppen, CEO, Mitsubishi Fuso and designated CEO of new holding company, said, “Today is a great day for all our stakeholders. We are shaping the industry by bundling our strengths. With a strong new company we combine our two trusted brands, our resources, competencies and expertise to even better support our customers in their transportation needs in the future. I feel honoured and excited to be the designated leader of the new company and am grateful for the trust and encouragement from Toyota and Daimler Truck to make it happen.”

Satoshi Ogiso, CEO, Hino, said, “Cooperation among these 4 companies is truly ‘once-in-a-lifetime opportunity’. In addition to operational synergy, we can expect immeasurable synergy affection from synthesising different culture and climate of us. Under commonly aimed aspiration, we are confident with building strong and resilient team to empathising with each other and contributing to society. As a new commercial vehicle company rooted in Japan, we collaboratively create ever better future.”

Swedish commercial major Volvo Trucks recently won the 2025 Green Truck Award for its Volvo FH Aero model. The win demonstrates the impact of the company's technologies and innovations on fuel efficiency, with the Aero cab and aerodynamic improvements contributing to fuel consumption and CO2 emission reductions.

The company's push for fuel savings includes a new in-house developed stop/start engine feature, which builds on the existing I-See and I-Roll technologies.

The feature works by constantly monitoring road data and road curvature. The engine is temporarily turned off when an oncoming downward slope is identified along the route. When the engine is off, zero fuel is consumed, resulting in no CO2 tailpipe emissions.

The functionality is activated at speeds above 60 kmph. Depending on conditions like topography and ambient temperature, the new I-Roll with Engine stop/start will cut up to 1 percent of fuel and CO2 emissions on top of already achieved savings.

The new feature will be offered on the Volvo FH and FH Aero with the 13-litre diesel engine. Customers can order it from November 2025.

Jan Hjelmgren, Head of Product Management, Volvo Trucks, said, “Our engineers have done it again – innovating a new engine technology that contributes to making transport by truck more fuel-efficient. As part of our decarbonisation strategy, we will continue to innovate to make our combustion engines even better and to reduce our impact on the environment.”

Volvo Trucks’ overall decarbonisation strategy includes combustion engines powered by renewable fuels, battery-electric and fuel-cell electric trucks.

Daimler India Commercial Vehicles (DICV) has announced that Satyakam Arya, its Managing Director and CEO, has been designated as President and Chief Executive Officer of Hino Motors. The appointment is planned to come into effect from 1 April 2026.

In the new strategic position, Arya will move to Tokyo, Japan to manage Hino Motors’ global operations and transformation. This move marks a significant leadership decision for the planned integration of Daimler Truck and Toyota Motor Corporation’s commercial vehicle subsidiaries, Mitsubishi Fuso and Hino Motors.

Achim Puchert, Member of the Board of Management of Daimler Truck Holding, responsible for Mercedes-Benz Trucks and BharatBenz, said, "Satyakam has been an outstanding leader during his time with us, demonstrating exceptional expertise in commercial vehicle operations and a deep commitment to customer success. His strategic acumen and proven ability to drive transformation position him perfectly for this new leadership role. We wish him all the best in his new role and in the years ahead."

Under Arya’s leadership, DICV is said to have achieved record profitability growth across its truck and bus portfolio while doubling its customer base. The company’s dealership network expanded from 182 to over 385 locations nationwide.

On sustainability, DICV became India's first commercial vehicle manufacturer to switch to 100 percent renewable energy. The company also secured the country's first IGBC Green Factory Building V2 certification. DICV led industry innovation by introducing EU safety standard ECE R29-03 cabin compliance, launching products like TorqShift (AMT) tippers and the HX Series, and navigating a seamless BS VI OBD2 transition.

"India's commercial vehicle industry is entering a transformative decade. With infrastructure investments accelerating and the push toward sustainable mobility gaining momentum, the fundamentals for growth have never been stronger. DICV has built a solid foundation, exceptional leadership, and the momentum to capitalise on these opportunities. I'm confident the team will continue to reach new heights," said Arya.

"Leading Hino Motors is both an honour and an opportunity. I'm excited to contribute to this integration while building on Hino's rich 80-year heritage and creating value for customers across global markets," he added.

Succession planning for Daimler India Commercial Vehicles operations is currently underway, with details to follow in the coming weeks. The appointment reflects the importance of the planned Mitsubishi Fuso – Hino Motors integration. Arya will return to Japan, where he previously spent four years with Daimler Truck Asia, bringing transformation expertise to his new leadership role.

Ashok Leyland, one of India’s leading commercial vehicle manufacturers, has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to provide competitive dealer finance options for its dealers of Medium and Heavy Commercial Vehicles (M&HCVs).

As per the understanding, Punjab National Bank will offer customised financial products to Ashok Leyland dealers to support their working capital and inventory funding needs. The initiative aims to strengthen dealerships by providing easy and flexible access to credit.

The MoU was signed by K M Balaji, Chief Financial Officer, Ashok Leyland and Amitabh Rai, General Manager, Punjab National Bank, in the presence of senior officials from both organisations.

Balaji said, “Ashok Leyland is pleased to partner with Punjab National Bank to offer enhanced financial support to our dealer partners. This collaboration will provide comprehensive financing solutions with flexible and convenient options, helping our dealers manage their business more efficiently. Leveraging PNB’s strong network across the country and competitive pricing, this initiative will further strengthen our reach and enable sustained growth for our dealer ecosystem.”

Madhavi Deshmukh, National Sales Head, Ashok Leyland, said, “This partnership with PNB will make financing more convenient for our dealers, ensuring smooth business operations and better customer service. We look forward to working closely with the bank to create value for our dealer partners.”

Rai added, “We are extremely happy to partner with Ashok Leyland. Through our varied financial solutions, our goal is to offer convenient and complete financing choices to the dealers. We believe that this partnership will meet the business needs of both organizations and create a strong positive impact.”

Chennai-based commercial vehicle major Ashok Leyland has released its wholesales of 17,820 units for October 2025, reporting a 16 percent rise in total wholesales compared to 15,310 units for the same month last year.

Total domestic sales grew by 16 percent, reaching 16,314 units for the month, compared to 14,067 units in October 2024. This includes Medium and Heavy Commercial Vehicles sales clocking 14 percent growth to 9,611 units. Light Commercial Vehicles (LCV) sales increased by 19 percent YoY, from 5,630 units to 6,703 units.

With this, cumulative wholesales for YTD FY2026 has grown by 6 percent reaching 111,174 units compared to 104,827 units last year.