Toyota Set to Join Daimler Truck and Volvo as Equal Partner in Fuel Cell Venture cellcentric
Toyota plans to become an equal shareholder in the fuel cell joint venture cellcentric alongside Daimler Truck and Volvo Group, aiming to accelerate hydrogen technology for heavy-duty transport.
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Toyota Motor Corporation has taken a non-binding step toward joining Daimler Truck and Volvo Group as a co-owner of cellcentric, the fuel cell systems joint venture focused on heavy-duty commercial vehicles. The three companies signed a memorandum of understanding outlining their intent to restructure cellcentric with equal stakes for all three partners.
Under the proposed arrangement, Toyota will inject capital into cellcentric through a share increase, bringing its decades of fuel cell expertise from the passenger car sector. Daimler Truck and Volvo Group contribute deep knowledge of commercial vehicle manufacturing and heavy-duty applications. The combined know-how is expected to bolster cellcentric's position as a leading supplier of fuel cell systems for trucks, buses, and off-road equipment.
The venture plans to jointly develop and produce fuel cell unit cells—the core component of the systems—along with related architecture and control elements. By pooling resources, the partners aim to create competitive products and accelerate the commercialization of hydrogen fuel cells for demanding transport uses.
Cellcentric will remain an independent entity, serving multiple customers beyond its shareholders. The partners also intend to collaborate with industry groups and stakeholders across the hydrogen value chain to help build out supply and refueling infrastructure.
Executives from all companies voiced support for the collaboration. Daimler Truck CEO Karin Rådström said the move will strengthen development and scaling of hydrogen technology. Andreas Gorbach, Daimler Truck board member for truck technology, called it a privilege to join forces with Toyota, describing the partnership as a "game changer" for hydrogen in transportation. Volvo Group CEO Martin Lundstedt noted that the collaboration can create critical mass for hydrogen applications. Toyota CEO Koji Sato expressed gratitude for the opportunity, highlighting how cellcentric's commercial focus combined with Toyota's fuel cell experience can deliver world-leading systems for heavy vehicles. Nicholas Loughlan, managing director and CTO of cellcentric, said Toyota's intention to join is a great sign of trust that will improve the company across the entire value chain.