Latest news for Hino Motors (OTC:HINOF) Stock

Hino Motors Ltd is a Japanese automobile manufacturer, and a subsidiary of Toyota Motor. The company primarily manufactures and sells medium and heavy commercial vehicles, such as trucks and buses, and light commercial vehicles under the Hino brand. These operations contribute the majority of consolidated revenue. In addition, Hino manufactures passenger vehicles under the Toyota brand, along with engines and spare parts. Domestic sales represent the largest share of Hino's revenue, with Asia excluding Japan the next most significant contributor.

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LAS VEGAS — The Advanced Clean Truck Expo is a come-all event. Until this year, Tesla has passed on attending.

The ACT Expo has outgrown the art deco charm of Long Beach and the &#34;Disney-fied&#34; atmosphere of Anaheim, California. This year, it moved to convention mecca with exhibitors filling the North Hall of the sprawling Las Vegas Convention Center.

Tesla to Trucking Industry: Step Up Your Electric Game

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Toyota Plans To Develop Light-Duty Fuel Cell Electric Trucks

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Japanese truck maker Hino Motors Ltd. (OTC: HINOF) won&#39;t build any heavy-duty trucks in the U.S. and Canada until the end of September 2021. Its engines fail to meet greenhouse gas and fuel efficiency standards.

Hino Motors Halts North American Production Until Late 2021

Hino Motors Ltd

Toyota is top-selling automaker yet again, but testing scandal fallout looms

Hino Motors (JP:7205) has released an update. Hino Motors, Ltd. commits to robust corporate governance to ensure management soundness, efficiency, ...

Hino Motors Advocates Strong Governance and Diversity

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Hino Motors

<ul>
	<li>Toyota Motor Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) plans to work with&nbsp;Isuzu Motors, Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ISUZY#OTC">ISUZY</a>),&nbsp;Hino Motors Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HINOF#OTC">HINOF</a>), and&nbsp;Commercial Japan Partnership Technologies Corp&nbsp;(CJPT)&nbsp;<a class="editor-rtfLink" href="https://global.toyota/en/newsroom/corporate/37544772.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">to develop light-duty fuel cell electric trucks&nbsp;</a>for the mass-market.</li>
	<li>The joint initiative is expected to contribute to realizing a hydrogen society and carbon neutrality by expanding the options available for customer use.</li>
	<li>FC technology runs on high energy density hydrogen and has zero CO2 emissions while driving.</li>
	<li>It will be introduced to the market after January 2023 and used by the partners at actual distribution sites in Fukushima Prefecture and Tokyo social implementation projects.</li>
	<li>Price Action:&nbsp;TM shares closed lower by 1.57% at $157.90 on Wednesday.</li>
	<li>Photo Via Company</li>
</ul>

Japanese truck maker Hino Motors Ltd. (OTC:<a class="ticker" href="/stock/HINOF#OTC">HINOF</a>) won&#39;t build any heavy-duty trucks in the U.S. and Canada until the end of September 2021. Its engines fail to meet greenhouse gas and fuel efficiency standards.

The <a href="https://www.hino-global.com/corp/for_investors/disclosure/Production%20Pause%20at%20Hino%27s%20North%20America%20Plants.pdf">decision last Wednesday by Hino&#39;s board of directors </a>in Japan came amid plans by its U.S. facility in Mineral Springs, West Virginia, to expand hiring for Class 7 and Class 8 truck production. The company announced<a href="https://www.freightwaves.com/news/hino-delivers-milestone-model-to-penske-truck-leasing"> a $40 million expansion and 250 new jobs in August 2019. </a>According to Hino&#39;s LinkedIn page, the company employs 604 workers.

Hino also is halting production at a plant in Woodstock, Ontario. Based in Novi, Michigan, Hino Motors Manufacturing USA Inc. has more than 240 U.S. dealers.

A subsidiary of Toyota Motor Corp. (NYSE:<a class="ticker" href="/stock/TM#NYSE">TM</a>), Hino said three engines for North America &mdash; the A09C, J08E and J05E &mdash; did not meet 2021 <a href="https://www.epa.gov/regulations-emissions-vehicles-and-engines/regulations-greenhouse-gas-emissions-commercial-trucks">U.S. Phase 2 Greenhouse Gas Emission and Fuel Efficiency</a> regulations for commercial trucks. The engines will meet the standard by the end of September 2021, Hino said.

<h2 id="h-restart-in-october-2021">Restart in October 2021</h2>

&quot;Vehicle production resumption and sales of vehicles containing new model year engines are expected in October 2021 in both the United States and Canada,&quot; Hino said in a statement.

Hino spent $100 million relocating from Williamstown, West Virginia, where it had produced medium-duty trucks since 2007. The Mineral Springs plant has single-shift capacity to build 15,000 trucks a year.

Hino also makes axles and other components for large Toyota pickups and SUVs in the U.S. It was unclear how the suspension affected that work.

&quot;Our goal is to take care of our team members and minimize the impact this situation may have on them,&quot; Glenn Ellis, Hino senior vice president of customer experience, told FreightWaves.

<h2 id="h-small-player">Small player</h2>

Hino is a small player among heavy-duty truck makers, producing approximately 8,000 trucks in its current fiscal year compared with 17,000 in fiscal 2019.

Through November, Hino had sold 936 trucks in Class 7 and 24 in Class 8, according to WardsAuto.com. Hino&#39;s 7,853 Classes 4-7 retail sales through November trailer the 12,616 retail sales a year earlier.

Hino is dwarfed by the likes of Daimler Trucks North America&#39;s Freightliner brand and PACCAR Inc.&#39;s (NASDAQ:<a class="ticker" href="/stock/PCAR#NASDAQ">PCAR</a>) Kenworth and Peterbilt nameplates. Volvo Group&#39;s Volvo Trucks North America and Mack brands and International models from&nbsp;Navistar International Corp. (NYSE:<a class="ticker" href="/stock/NAV#NYSE">NAV</a>) account for the vast majority of sales.

The production suspension is unrelated to Hino&#39;s plans to use hydrogen-powered fuel cells from the Toyota Mirai passenger car for a <a href="https://www.freightwaves.com/news/hino-toyota-bringing-class-8-fuel-cell-truck-to-north-america-next-year">Class 8 fuel cell truck</a> it plans to demonstrate in the U.S. in 2021.

<h2 id="h-related-articles">Related articles:</h2>

<a href="https://www.freightwaves.com/news/hino-toyota-bringing-class-8-fuel-cell-truck-to-north-america-next-year">Hino, Toyota bringing Class 8 fuel cell trucks to North America next year</a>

<a href="https://www.freightwaves.com/news/xos-gets-first-class-8-electric-truck-deal-from-hino">Xos gets first Class 8 electric truck deal from Hino</a>

<a href="https://www.freightwaves.com/news/hino-delivers-milestone-model-to-penske-truck-leasing">Hino delivers milestone model to Penske Truck Leasing</a>

<a href="https://www.freightwaves.com/news/author/alanadler">Click for more FreightWaves articles by Alan Adler.</a>

Navistar International (NYSE:<a class="ticker" href="/stock/NAV#NYSE">NAV</a>) shares fell nearly 6.5 percent on Wednesday (July 17) after the head of Volkswagen&#39;s (OTCPK:VWAGY) trucking group TRATON SE said it was &quot;not interested&quot; in a full acquisition of the Lisle, Illinois truck manufacturer.&nbsp;

TRATON CEO Andreas Renschler told the German newspaper Handelsblatt that owning 16.8 percent of Navistar&#39;s stock and controlling two board seats is sufficient.

We are very satisfied with our partnership with Navistar as it is,&quot; Renschler said. &quot;To be honest, many takeovers &ndash; even in other industries &ndash; are unsuccessful.&quot;

In 2018, Renschler said acquiring Navistar would be a &quot;good idea.&quot;

Navistar did not immediately respond to a request for comment on the report. Navistar&#39;s stock closed at $31.43 on Wednesday. Shares are still up 16 percent since the start of the year.

Been here before

David Leiker, senior research analyst at Robert W. Baird &amp; Co., said TRATON, formerly the Truck &amp; Bus Group of Volkswagen, has made similar comments since paying $256 million in September 2016 for its stake in Navistar.

&quot;In the past, comments suggesting a longer process for acquiring Navistar have created pullbacks in Navistar&#39;s stock, and today is no different,&quot; Leiker wrote in a note to investors. &quot;We firmly believe TRATON will eventually acquire Navistar to maximize the synergies and financial returns from its investment.&quot;

Geographic synergies

TRATON began trading on the Frankfurt Stock Exchange and Nasdaq Stockholm under the ticker 8TRA on June 28. That <a href="https://www.freightwaves.com/news/stage-set-for-volkswagen-to-further-pursue-navistar">raised investor speculation </a>that it would add Navistar to its MAN and Scania brands as it pursues Daimler AG (NASDAQ:<a class="ticker" href="/stock/DMLRY#NASDAQ">DMLRY</a>) and Volvo AB (NASDAQ:<a class="ticker" href="/stock/VLVLY#NASDAQ">VLVLY</a>) for global truck leadership.&nbsp;&nbsp;

TRATON&#39;s core markets are Europe and South America. It reported revenue of 25.9 billion euros in 2018 with truck sales of 233,000 units. North America accounts for only 1.5 percent of TRATON&#39;s vehicle deliveries. It has about 81,000 employees and 29 production and assembly facilities in 17 countries.

Navistar holds about 14 percent of the U.S. market for heavy- and medium-duty trucks. It generated $10.3 billion in revenue during its 2018 fiscal year ending in October 2018. &nbsp; Navistar&#39;s $3.3 billion market cap is roughly one-quarter of TRATON&#39;s value. The two collaborate on engine technology, the sale of engines and contract manufacturing.

TRATON formed a strategic <a href="https://www.volkswagenag.com/en/news/2018/04/Strategic_partnership.html">partnership with Japan&#39;s Hino Motors</a> Ltd. (OTC:<a class="ticker" href="/stock/HINOF#OTC">HINOF</a>) in April 2018 to cooperate on conventional, hybrid and electric powertrains, connectivity and autonomous driving systems as well as purchasing and logistics. Toyota Motor Corp. (NYSE:<a class="ticker" href="/stock/TM#NYSE">TM</a>) owns 50.1 percent of Hino.&nbsp;&nbsp;

Investment timing

TRATON&#39;s investment came at a critical time for Navistar. Its market share had cratered because of the <a href="https://www.freightwaves.com/news/navistar-to-settle-class-action-for-135-million-over-defective-maxxforce-engines">defective Maxxforce engine</a> that cost billions in recalls and repairs and damaged the company&#39;s reputation. Navistar recently set aside $158 million to cover a class action and other customer claims.

Since the alliance was formed, Navistar has also benefited from TRATON&#39;s purchasing might.&nbsp; VW and Navistar said they anticipated five-year savings of $500 million from working together.

&quot;The alliance with TRATON is reducing costs through the procurement joint venture and cost-effective access to next-generation technologies,&quot; Navistar CEO Troy Clarke said on the company&#39;s earnings call June 4.

Image sourced from Pixabay

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TRATON Boss Says VW Truck Unit "Not Interested" In Acquiring Navistar

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