Mitsubishi Fuso and Nissan Diesel Intend to Increase Bus Cooperation

Mitsubishi Fuso Truck and Bus Corporation (hereinafter MFTBC) and Nissan Diesel Motor Co., Ltd. (hereinafter Nissan Diesel) today announced that the companies have signed a letter of intent (LOI) to explore expansion of their relationship regarding the bus business, including the possibility of establishing a joint venture company in the bus business.

To optimize participation in the bus market in Japan, the companies will discuss integrating bus operations including planning, research & development, production and sales under a joint company. But both MFTBC and Nissan Diesel plan to continue to offer comprehensive bus product lines under their own brands.

The purpose of the planned increase in bus cooperation is to make effective use of both company’s resources so the companies can extend their capabilities to develop, produce and service fuel efficient, low emissions (clean) buses which meet comprehensive customer needs.

The companies already participate in an OEM supply agreement reached in July 2006, whereby MFTBC has supplied Nissan Diesel with large tourist coaches and some large city buses and Nissan Diesel has supplied MFTBC with mid-sized buses and non-step, large city buses since June 2007.

Based in Kawasaki, Japan, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) is one of Asia's leading commercial vehicle manufacturers. In 2008, the company sold a total of about 197,700 vehicles including light-, medium- and heavy-duty trucks and buses. Daimler AG owns 85% of MFTBC shares. The remaining 15% of shares are held by various Mitsubishi group companies. MFTBC is an integral part of the Daimler Trucks Division of Daimler AG.