Deal to work closer may see bus JV set up

• Source: Shanghai Daily
• [08:19 September 01 2009]
• Comments

German car, truck and bus maker Daimler AG said yesterday its Mitsubishi Fuso Truck and Bus Corporation and Nissan Diesel Motor Co Ltd had signed a letter of intent to work more closely together and possibly establish a joint venture in the bus business.

The Japan-based companies will discuss integrating bus operations including planning, research and development, production and sales under a joint company, though Stuttgart-based Daimler said in a statement the companies plan to continue to offer bus product lines under their own respective brands.

Mitsubishi Fuso and Nissan already cooperate through a supply deal, Daimler said.

The Mitsubishi Fuso brand is the second-largest manufacturer of light, medium, and heavy-duty trucks in Japan, and one of the largest bus makers. Daimler holds 85 percent in Mitsubishi Fuso Truck and Bus, according to the Daimler 2008 annual report.

"The signing of the letter of intent with Nissan Diesel is an important step for our bus business in Japan and our Asia strategy," said Daimler AG board of management member Andreas Renschler.