Toyota Joins Daimler Truck, Volvo in Cellcentric

Daimler Truck, Volvo, and Toyota have signed a non-binding agreement for Toyota to become an equal shareholder in Daimler Truck===Cellcentric, their fuel cell system joint venture. Daimler Truck===Cellcentric, founded in 2021 by Daimler Truck and Volvo, focuses on developing, producing, and commercializing fuel cell systems for heavy-duty vehicles and other heavy-duty applications. Toyota will invest in Daimler Truck===Cellcentric through a capital increase, bringing its over 30 years of fuel cell development expertise, particularly from passenger cars. The partnership aims to accelerate the rollout of competitive hydrogen-powered systems, jointly develop fuel cell unit cells, and support the development of hydrogen infrastructure. This collaboration is seen as a critical step to scale hydrogen technology globally and contribute to decarbonization goals like the European Green Deal and Japan's hydrogen society act. The agreement is subject to regulatory approvals.