For heavy vehicle fleet managers under pressure to deliver on net zero commitments, the recent global truck merger news offers cautious cause for optimism.
Daimler Truck, Mitsubishi Fuso, Hino Motors and Toyota Motor Corporation have now signed Definitive Agreements to merge Fuso and Hino under a new holding company—an announcement that could help accelerate the development of zero-emission trucks in Australia and New Zealand.
While some questions remain, there’s little doubt this could mark a paradigm shift for the commercial vehicle industry globally—one driven by the need to meet both sustainability goals and increasing competition from Chinese new energy truck makers.
Pooling resources for a low-carbon future
In their official release, the four companies made it clear that the merger is about building a “strong Japanese truck powerhouse” capable of leading in next-generation technologies.
They explicitly named carbon neutrality and CASE technologies (Connected, Autonomous, Shared, Electric), including hydrogen, as key pillars of their strategy.
“This is a great day for all our stakeholders,” said Karl Deppen, CEO of Mitsubishi Fuso and designated CEO of the new holding company. “We are shaping the industry by bundling our strengths … to even better support our customers in their transportation needs in the future”.
For fleet managers tasked with building practical net zero fleet plans, this sounds like welcome news.
Is this the only way forward?
It’s worth asking: has the development cost of low- and zero-emission trucks simply become too great for individual brands to tackle alone?
The answer increasingly looks like yes.
“We are bringing together two strong partners to form an even stronger company and to successfully shape the decarbonisation of transportation,” said Karin Rådström, CEO of Daimler Truck. “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”.
Hydrogen fuel cell trucks, for example—where Toyota already leads globally—require huge investment to bring to market at scale. Battery electric heavy trucks, especially those intended for long-haul duty cycles, remain in early stages in most markets.
In a fragmented global industry, pooling resources makes strategic sense.
A response to Chinese disruption?
The merger may also be a strategic response to the accelerating Chinese new energy truck market.
Chinese brands such as Foton, JAC, Dongfeng, and others are bringing increasing volumes of electric and hydrogentrucks to export markets—including Australia and New Zealand—at highly competitive prices.
Japanese incumbents risk being left behind unless they combine their technical resources and speed up development.
Toyota CEO Koji Sato echoed this future focus:
“We believe that the future is for us to build together. Today’s final agreement is not the goal but the starting line,” he said. “Our four companies … will continue to create the future of commercial vehicles together”.
For Australian and NZ fleet managers, this signals a greater likelihood that local operations will gain access to high quality Japanese-built zero emission options in the years ahead—crucial for meeting net zero goals.
What fleet managers should watch for
For fleets already implementing or exploring EV transition plans for trucks, key questions arising from the merger include:
- Will the combined Fuso–Hino group prioritise zero emission truck development to stay competitive with Chinese entrants?
- Could combined development pipelines see hydrogen fuel cell trucks arrive faster—and at more affordable price points?
- Will pooling scale across brands help bring electric distribution trucks to market with better range and payload?
- Could we see cross-brand platform sharing that enables wider model choice in EV and fuel cell formats?
A positive signal for net zero fleet planning
While the deal won’t officially close until April 2026, the direction of travel is clear: Japanese truck makers now recognise that collaborating is essential to win the global race toward zero emissions.
For fleet managers currently under organisational pressure to deliver credible net zero pathways—including for heavy vehicles where options remain limited—this announcement should be seen as a positive signal.
The Japanese majors are aligning for scale, innovation and global competitiveness. That gives fleets across Australia and NZ a better chance of seeing fit-for-purpose electric and hydrogen trucks reach our markets in coming years—offering more options beyond what Chinese brands currently provide.
Fleet EV News will continue to track the impacts of this merger on zero emission truck availability in our region as the new combined group begins to take shape.