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.”

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Chennai-headquartered commercial vehicle major Ashok Leyland has signed a Memorandum of Understanding (MoU) with Chhattisgarh Rajya Gramin Bank (CRGB) to enter into a strategic vehicle financing partnership for its Medium and Heavy Commercial Vehicles (MHCV) customers.

The MoU was exchanged between D S Madhusudhan, Head Sales - Finance, Ashok Leyland and Vijay Vasant Raikwad, General Manager – Credit, Chhattisgarh Rajya Gramin Bank.  Sreeji, Zonal Manager - Central, Ashok Leyland; Saikat Mandal, Regional Manager – Chhattisgarh, Ashok Leyland and Amarjeet Singh Khanuja, AGM – Credit, Chhattisgarh Rajya Gramin Bank were also present at the event.

K M Balaji, Chief Financial Officer, Ashok Leyland, said, “Ashok Leyland is happy to partner with Chhattisgarh Rajya Gramin Bank. Our collaboration with Chhattisgarh Rajya Gramin Bank enables us to offer comprehensive financing solutions, with flexible and customized repayment plans, ensuring greater convenience for our customers leveraging the Bank’s network in state of Chhattisgarh.”

Sanjeev Kumar, President – MHCV, Ashok Leyland, said, “We are delighted to partner with Chhattisgarh Rajya Gramin Bank to offer attractive and accessible financing solutions to our customers. This strategic collaboration further strengthens Ashok Leyland’s market leadership and customer-centric approach. Our advanced products are engineered to deliver the industry's best total cost of ownership, enabling greater profitability for our customers. We remain committed to delivering exceptional experiences across every touchpoint.”

Vijay Vasant Raikwad, General Manager – Credit, Chhattisgarh Rajya Gramin Bank, said, “We are proud to partner with Ashok Leyland. The partnership will offer customised offerings to customers across Chhattisgarh. Our diverse financial offerings aim to deliver convenient and comprehensive financing choices. We believe this partnership will fulfil the business needs of both organisations, creating a significant positive impact and paving the way for continued progress and success in the commercial vehicle sector.”

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Lohia Auto has launched the Youdha EPOD at INR 270,000, marking its maiden entry into the competitive L5 electric vehicle segment.

The newly launched EPOD is equipped with a 6-kilowatt motor delivering 50 Nm of torque and is powered by an 11.8 kWh LFP battery. It offers a certified range of 227km on a single charge (upto 180-190km of real-world claimed range) and gets dual driving modes – City and Boost. Built with Indian road conditions in mind, the EPOD also features a 300mm water-wading capacity and a ground clearance of 155-160mm. It also gets an auxiliary battery at the rear which helps the primary battery ‘wakeup’ for a start. 

At present, Lohia Auto’s manufacturing facility in Kashipur, Uttarakhand, has an installed annual capacity of 100,000 units. Through passenger and cargo EVs, the company targets a revenue milestone of INR 10 billion by 2030.  

Ayush Lohia, CEO, Lohia Auto, said, “The Youdha EPOD reflects values of sturdiness, reliability, aspiration and affordability. It is meant to be sold to drivers, fleet owners and entrepreneurs, reflecting success and independence that is driven by the future. We are not just offering a vehicle – we’re offering economic empowerment.”

To begin with the electric autorickshaw will first be rolled out in Uttar Pradesh, Bihar and Assam, with a phased expansion planned over the coming quarters. The geographies are said to be chosen on the basis of high three-wheeler usage density, high EV adoption potential and a quickly growing base of self-employed drivers seeking efficient mobility solutions.

In line with the above, he spoke about the epod blending robust performance with aspirational identity while keeping the driver’s needs at the centre, reflected in Yodha’s tagline “Chalao Aan Se, Kamao Shaan Se (Drive with victory, earn with pride).”  

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  - Aditya Biswas July 24, 2025 01:19 AM

  Nice article. keep it up

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Ashok Leyland, the flagship company of the Hinduja Group and India’s leading commercial vehicle manufacturer, has entered into a strategic partnership with Tamil Nadu Grama Bank to offer tailored vehicle financing solutions. This collaboration aims to enhance accessibility for commercial vehicle customers across Tamil Nadu by providing customised loan options with flexible repayment plans.

The memorandum of understanding (MoU) was formally signed by Viplav Shah, Head of LCV Business at Ashok Leyland, and Kannan Ponnuraman, General Manager of Tamil Nadu Grama Bank, in the presence of Mani Subramanian, the bank’s Chairman. Through this alliance, Tamil Nadu Grama Bank will extend end-to-end financial support to Ashok Leyland’s customers, ensuring convenient and customer-centric loan facilities.

With 676 branches spread across Tamil Nadu, Tamil Nadu Grama Bank offers a diverse portfolio of financial products catering to various segments, including agriculture, retail, and Micro, Small and Medium Enterprises (MSMEs). The bank is also committed to advancing financial inclusion by promoting government schemes and delivering affordable banking services to underserved communities.

Ashok Leyland boasts an extensive lineup of commercial vehicles, ranging from light commercial vehicles for intercity transport to heavy-duty trucks and a wide array of buses. Known for their safety features and driver-friendly designs, Ashok Leyland’s vehicles also emphasise sustainability, with alternative fuel-powered buses contributing to eco-friendly transportation solutions. As an industry leader in innovation, Ashok Leyland continues to drive progress in India’s commercial vehicle sector while prioritising environmental responsibility.

Shah said, “We are delighted to partner with Tamil Nadu Grama Bank to offer our customers convenient and attractive vehicle financing solutions. This strategic collaboration will further strengthen Ashok Leyland’s presence in the market and enhance accessibility to our innovative, cost-efficient products. At Ashok Leyland, we are committed to delivering industry-leading value and exceptional experiences for our customers, empowering them to achieve greater profitability and success.”

Subramanian said, “Tamil Nadu Grama Bank is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This association reflects our dedication to serving the diverse financial needs of commercial vehicle customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment.”

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Tata Motors, one of India’s largest commercial vehicle manufacturers, has started deliveries of an additional 148 advanced Tata Starbus electric buses to the Bengaluru Metropolitan Transport Corporation (BMTC).

The Tata Starbus EV is designed for intra-city operations and is equipped with new-gen electric powertrain, Electronic Stability Control, Electronic Brake Distribution and an Integrated Transport System. With a low-floor design, it offers ergonomic seating for 35 passengers.

These e-buses will further complement the 921 e-buses already plying on the Bengaluru roads. The fleet will be operated and maintained by TML Smart City Mobility Solutions, a wholly owned subsidiary of Tata Motors, under a 12-year contract.

Ramachandran R, IAS, Managing Director, BMTC, said, “Tata Motors electric buses already running across Bengaluru have shown outstanding performance, clocking high uptime and meeting public expectations on comfort and convenience. Based on this success, we are pleased to induct an additional 148 e-buses from Tata Motors. These buses will further enhance our ability to offer citizens a safe, sustainable and efficient travel option on a wider network across Bengaluru.”

Anand S, Vice-President and Head – TML Smart City Mobility & Commercial Passenger Vehicle Business, Tata Motors, said, “It is a momentous occasion as we commence deliveries for yet another fleet of our environment-friendly and efficient Starbus electric buses to BMTC as per schedule. We are honoured by the trust shown by BMTC not only for our products but also on our ability to deliver an unparalleled uptime for two years, clocking over six crore cumulative kilometres. We remain committed to supporting their vision for sustainable, public transport by delivering innovative e-mobility solutions backed by technology, service and execution.”

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