Toyota to join Daimler Truck and Volvo as equal shareholder in fuel cell JV cellcentric
Toyota Motor Corporation has signed a binding agreement to become an equal one-third shareholder in cellcentric, the fuel cell joint venture of Daimler Truck and Volvo Group.
- 33.33%
- 560
- 700
- End of 2026 or start of 2027
What Happened
Daimler Truck, Volvo Group, Toyota Motor Corporation, and cellcentric have signed a binding agreement for Toyota to join as an equal partner, with each of the three companies holding a one-third stake. The agreement follows a non-binding memorandum of understanding signed at the end of March 2026. Completion of the transaction is subject to regulatory approvals and is expected around the end of 2026 or the start of 2027.
The partners plan to collaborate on equal terms to strengthen cellcentric's technological lead, industrial scale, and competitiveness in heavy-duty fuel cell technology. They will also support the development of hydrogen supply and infrastructure through industry associations and partners across the hydrogen value chain. cellcentric will continue to operate as an independent and autonomous company, serving heavy-duty on-road and off-road transport, coaches, stationary power generation, rail, and heavy off-highway equipment. Daimler Truck, Volvo Group, and Toyota will remain competitors in all other areas of their businesses.
Toyota signed a non-binding MoU to join cellcentric as equal shareholder
Binding agreement signed for Toyota to join as equal partner
Completion of the transaction, pending regulatory approvals
Previously from cellcentric
Toyota had previously signed a non-binding memorandum of understanding in March 2026 to join cellcentric as an equal partner alongside Daimler Truck and Volvo Group. That agreement outlined the intention to collaborate on heavy-duty fuel cell technology. The new binding agreement formalizes that intention, now pending regulatory approval.
Background drawn from MotorClaw's earlier coverage of cellcentric's official releases.
Why this matters
This partnership strengthens cellcentric as a leading developer of fuel cell systems for heavy-duty trucks. The combined resources of three global automakers aim to accelerate hydrogen infrastructure and make fuel cell technology more competitive with diesel. The deal impacts suppliers, truck buyers, and the broader hydrogen ecosystem.
Terms in This Story
- Fuel cell system
- A device that converts hydrogen and oxygen into electricity, with water as the only byproduct, used to power vehicles and other applications.
- Joint venture (JV)
- A business arrangement where two or more parties pool resources to undertake a specific project or business activity, sharing ownership and risks.
- Hydrogen ecosystem
- The network of hydrogen production, storage, distribution, and refueling infrastructure needed to support hydrogen-powered vehicles.
Summarised from the linked release; details can be imperfect — always verify against the original source.