Toyota joins Volvo Group and Daimler Truck as equal partner in fuel cell joint venture cellcentric
Toyota Motor Corporation will become an equal shareholder in cellcentric, the heavy-duty fuel cell joint venture, alongside Volvo Group and Daimler Truck.
- 560
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What Happened
Toyota Motor Corporation has signed a binding agreement to join cellcentric as an equal shareholder alongside Volvo Group and Daimler Truck, transforming the joint venture from a two-company partnership into a three-way collaboration. The partners plan to cooperate on equal terms to strengthen cellcentric's technological lead, industrial scale, and competitiveness in heavy-duty fuel cell technology. They will also work with industry associations and partners across the hydrogen value chain to support hydrogen supply and infrastructure development. Completion of the transaction is expected around year end 2026 or start of 2027, subject to regulatory approvals.
cellcentric will continue to operate as an independent and autonomous company, serving a broad range of customers in heavy-duty on-road and off-road transport, as well as other applications such as coaches, stationary power generation, rail, and heavy off-highway equipment. The joint venture was founded in 2021 by Daimler Truck and Volvo Group and employs more than 560 people across sites in Germany and Canada. The company holds roughly 700 individual patents, underlining its leading role in fuel cell technology development.
cellcentric founded as a joint venture by Daimler Truck and Volvo Group
Binding agreement signed for Toyota to join as equal shareholder
Expected completion of transaction, subject to regulatory approvals
560employees
Working at sites in Germany and Canada on fuel cell technology
Why this matters
This three-way partnership aims to accelerate development and scaling of hydrogen fuel cell technology for heavy trucks and other applications, strengthening cellcentric's competitiveness. The collaboration could help overcome infrastructure challenges and bring zero-emission heavy transport closer to reality for fleet operators and logistics companies.
Terms in This Story
- fuel cell
- A device that converts hydrogen and oxygen into electricity, with water as the only byproduct, used to power electric motors in vehicles.
- joint venture
- A business arrangement where two or more parties pool resources and share ownership, risks, and rewards of a specific project or company.
- hydrogen ecosystem
- The network of production, storage, distribution, and refueling infrastructure needed to support hydrogen as an energy carrier.
Summarised from the linked release; details can be imperfect — always verify against the original source.