TOKYO/NAGOYA, Japan — For Toyota Motor, plans to join forces with Germany’s Daimler Truck mark a new stage in efforts to turn around scandal-damaged subsidiary Hino Motors.
Toyota holds a 50.1% stake in Hino. But Hino no longer will be a Toyota subsidiary after it goes under a new holding company alongside Daimler-owned Mitsubishi Fuso Truck and Bus by the end of 2024.