Business
Toyota Motor Corporation aims to join Volvo Group and Daimler Truck as equal shareholder in the fuel cell joint venture cellcentric
Volvo Group (Volvo), Daimler Truck AG (Daimler Truck), cellcentric and Toyota Motor Corporation (Toyota) have signed a non-binding agreement to cooperate in the fuel cell system joint venture cellcentric. The three companies intend to collaborate based on an equal shareholding with Toyota as the third joint venture partner to cellcentric. The combination of the parties' complementary experience and know-how will support and accelerate their joint objective to develop, produce and commercialise f
About this update from Volvo Ab Class A
[{"type":"list","items":[{"val":[{"type":"text","content":"Volvo Group, Daimler Truck, cellcentric and Toyota Motor Corporation signed a non-binding Memorandum of Understanding to collaborate on fuel cell technology.","length":157,"tagName":"p"}]},{"val":[{"type":"text","content":"Toyota Motor Corporation aims to invest in cellcentric and to join existing shareholders Volvo Group and Daimler Truck as an equal partner.","length":139,"tagName":"p"}]},{"val":[{"type":"text","content":"Upon closing of the process, Toyota will bring its complementary know-how and expertise to the joint venture.","length":109,"tagName":"p"}]},{"val":[{"type":"text","content":"All three shareholders intend to further strengthen cellcentric as a leading manufacturer of fuel cell systems for heavy-duty commercial applications.","length":150,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":555,"olType":false},{"type":"text","content":"GOTHENBURG, Sweden, March 31, 2026 /PRNewswire/ -- Volvo Group (Volvo), Daimler Truck AG (Daimler Truck), cellcentric and Toyota Motor Corporation (Toyota) have signed a non-binding agreement to cooperate in the fuel cell system joint venture cellcentric. The three companies intend to collaborate based on an equal shareholding with Toyota as the third joint venture partner to cellcentric. The combination of the parties' complementary experience and know-how will support and accelerate their joint objective to develop, produce and commercialise fuel cell systems for heavy-duty vehicles and other heavy-duty applications with comparable requirements. Additionally, Toyota and cellcentric intend to jointly manage the development and production of fuel cell unit cells-the core component of fuel cell systems- and directly linked architecture and control elements with the aim of creating competitive products based on the technologies of both companies.","length":967,"tagName":"p"},{"type":"text","content":"By combining Volvo's and Daimler Truck's extensive commercial vehicle expertise with Toyota's fuel cell development, production technology and manufacturing experience the aim is to further strengthen cellcentric's technological advantage and market competitiveness. It is intended that cellcentric will be the joint centre of competence that develops, produces and commercialises fuel cell systems for heavy-duty on- and o...