Toyota to Join Volvo and Daimler Truck in Hydrogen Fuel Cell Joint Venture cellcentric

Toyota Motor Corporation has signed a non-binding agreement to become an equal shareholder in cellcentric, a joint venture focused on developing hydrogen fuel cell systems. Launched in 2021 by Volvo Group and Daimler Truck, cellcentric aims to be a global manufacturer and tier-1 supplier of fuel cell systems for long-haul trucking and heavy-duty applications. Under the agreement, Toyota and cellcentric will jointly manage the development and production of fuel cell unit cells, the core component of fuel cell systems, along with related architecture and control elements. This collaboration seeks to combine Toyota's extensive experience in passenger car fuel cell development with cellcentric's expertise in commercial fields to create competitive products and accelerate the scaling of hydrogen solutions for decarbonizing transport.

Counterparts (3)

Partner

Toyota Motor Corporation

company

Toyota Motor Corporation, a Japan-based global automotive manufacturer, reported ¥37.15 trillion in revenue for FY2023, producing over 10 million vehicles annually across its worldwide operations.

Daimler Truck

company

Daimler Truck is a global leader in commercial vehicle manufacturing, generating €55.9 billion in revenue and selling approximately 526,000 trucks and buses in FY2023 across North America, Europe, and Asia. The company specializes in heavy-duty trucks, buses, and related services, serving the global transportation and logistics sector.

Volvo Group

company