Hino Motors and Mitsubishi Fuso Truck and Bus Corporation (MFTBC) said their planned merger would likely be delayed as they waited for the necessary regulatory clearances and approvals under competition and other laws and regulations.

The two companies agreed to a full merger on equal terms in May 2023 when they signed a memorandum of understanding (MoU) which aimed to “accelerate the development of advanced technologies and merge MFTBC and Hino”.

The planned collaboration would target “achieving carbon neutrality and creating a prosperous mobility society by developing CASE technologies (Connected/Autonomous & Automated/Shared/Electric) and strengthening the commercial vehicle business on a global scale”.

According to the MoU, the two companies planned to combine their strengths in commercial vehicle development, component and services procurement and vehicle production.

They planned to build a globally competitive Japanese commercial vehicle manufacturer with their respective parent companies Toyota Motor and Daimler Truck both investing equally in a listed holding company.

The definitive agreement for the merger was scheduled to be signed at the end of March 2024 with integration of the two companies to be completed by the end of the year.

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Last week, they said: “The envisaged execution of the definitive agreement and the implementation of the business integration will be announced as soon as a reliable timeline for the pending investigations is available. Once all parties involved reach an agreement, they will move forward based on the approval of the relevant boards of directors, shareholders and authorities.”