A Toyota Revo BEV Concept truck witnessed throughout the 44th Bangkok Global Motor Present.
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Daimler Truck Holding and Toyota Motor Corp said on Tuesday they experienced entered a non-binding arrangement to combine the organizations of their truck units in Japan.
Less than the memorandum of knowledge (MOU), the corporations of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors Ltd would be merged under a keeping corporation, they claimed in a statement.
The shares of the new enterprise are expected to be detailed on the Key Market of the Tokyo Stock Trade.
Daimler Truck and Toyota will devote in the organization similarly and cooperate on the advancement of hydrogen and other technologies in regions these types of as connectivity and autonomous driving, the statement reported.
The organizations assume to indicator a definitive settlement in the initial quarter of 2024 and near the transaction by the finish of next year, they explained.
Last calendar year, a committee tasked with investigating an emissions scandal at Hino, which became a Toyota subsidiary in 2001, observed that the truck and bus maker had falsified emissions data going again to 2003.
The heads of the four providers will keep a joint news conference in Tokyo at 4:30 p.m. (0730 GMT).