Daimler Truck, Volvo Group, and Toyota Sign Binding Agreement for Equal Stake in Cellcentric
Toyota Motor Corporation will join Daimler Truck and Volvo Group as an equal partner in fuel cell joint venture cellcentric, each taking a one-third stake.
- 3
- 560
- 700
- 2021
What Happened
Daimler Truck, Volvo Group, and Toyota Motor Corporation have signed a binding agreement for Toyota to join fuel cell joint venture cellcentric as an equal partner. Upon completion, each owner will hold a one-third stake. The agreement follows a non-binding deal signed at the end of March 2026 and is subject to regulatory approvals. The collaboration aims to strengthen cellcentric's position as a leading developer and manufacturer of fuel cell systems for heavy-duty commercial applications.
cellcentric founded as a joint venture between Daimler Truck and Volvo Group
Non-binding agreement signed for Toyota to join cellcentric
Binding agreement signed for Toyota to join as equal partner
Expected completion of the transaction, pending regulatory approvals
- Heavy-duty on-road transport
- Heavy-duty off-road transport
- Coaches
- Stationary power generation
- Rail
- Heavy off-highway equipment
cellcentric will continue to operate as an independent and autonomous company, serving a broad customer base. Daimler Truck, Volvo, and Toyota will compete independently in all other areas. The partners plan to collaborate on equal terms to advance cellcentric's technological lead, industrial scale, and competitiveness. They also aim to support hydrogen supply and infrastructure development through industry associations and partners across the hydrogen value chain.
560highly qualified employees
Working at sites in Germany and Canada
700individual patents
Underlining cellcentric's leading role in fuel cell technology
Why this matters
The partnership combines three major automakers to accelerate development of hydrogen fuel cell systems for heavy-duty trucks. By sharing investment and expertise, they aim to lower costs and build the hydrogen infrastructure needed for zero-emission commercial transport. The deal could speed up the availability of fuel cell trucks for fleet operators.
Terms in This Story
- fuel cell
- A device that converts hydrogen and oxygen into electricity, emitting only water vapor, used to power electric motors in vehicles.
- joint venture
- A business arrangement where two or more parties agree to pool resources for a specific project or business activity.
- hydrogen infrastructure
- The network of production, storage, and refueling stations needed to supply hydrogen fuel for vehicles.
- regulatory approvals
- Permissions from government authorities required before a merger or joint venture can be completed.
Summarised from the linked release; details can be imperfect — always verify against the original source.