Toyota Motor Corporation aims to join Daimler Truck and Volvo Group as equal shareholder in the fuel cell joint venture cellcentric

Daimler Truck AG (Daimler Truck), the Volvo Group (Volvo), 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 advance 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.