Global Finance News
31 Mar 2026, 11:22
Toyota to join Daimler Truck and Volvo fuel cell joint venture
31 March 2026 — Toyota Motor Corporation announced plans to join the fuel cell joint venture cellcentric alongside Daimler Truck AG and Volvo Group as an equal shareholder, aiming to accelerate hydrogen-powered transport solutions.
The companies signed a non-binding agreement to collaborate on the development, production, and commercialization of fuel cell systems for heavy-duty vehicles. Toyota is expected to invest in cellcentric to establish equal ownership, contributing its expertise in fuel cell technology and manufacturing.
The partnership seeks to strengthen cellcentric’s position as a leading supplier of fuel cell systems for commercial transport and other heavy-duty applications. By combining Daimler and Volvo’s commercial vehicle capabilities with Toyota’s decades of fuel cell experience, the venture aims to scale hydrogen technology and improve competitiveness.
The collaboration also targets broader industry development, including advancing hydrogen infrastructure and supporting global decarbonization efforts. A final binding agreement will be subject to regulatory approvals and further negotiations.
31 March 2026 — Toyota Motor Corporation announced plans to join the fuel cell joint venture cellcentric alongside Daimler Truck AG and Volvo Group as an equal shareholder, aiming to accelerate hydrogen-powered transport solutions.
The companies signed a non-binding agreement to collaborate on the development, production, and commercialization of fuel cell systems for heavy-duty vehicles. Toyota is expected to invest in cellcentric to establish equal ownership, contributing its expertise in fuel cell technology and manufacturing.
The partnership seeks to strengthen cellcentric’s position as a leading supplier of fuel cell systems for commercial transport and other heavy-duty applications. By combining Daimler and Volvo’s commercial vehicle capabilities with Toyota’s decades of fuel cell experience, the venture aims to scale hydrogen technology and improve competitiveness.
The collaboration also targets broader industry development, including advancing hydrogen infrastructure and supporting global decarbonization efforts. A final binding agreement will be subject to regulatory approvals and further negotiations.