Toyota Motor Corporation (Toyota) has become an equal partner in Cellcentric, the hydrogen fuel cell joint venture founded by Daimler Truck and the Volvo Group, as the three companies move to accelerate the development and commercialisation of fuel cell systems for heavy-duty vehicles.
Toyota, Volvo, and Daimler Unite for Hydrogen Fuel Cell Growth via Cellcentric
The three parties have signed a non-binding agreement to restructure Cellcentric around an equal shareholding, with Toyota joining as a third partner through a capital increase in the company. While the agreement remains subject to finalisation and regulatory approval, it signals a broadening of the venture’s ambitions and capabilities.
Cellcentric, which was established in 2021 and employs more than 560 people in Germany and Canada, develops and produces fuel cell systems primarily for heavy-duty commercial vehicles. The company holds roughly 700 individual patents, underlining its status as a force to be reckoned with within the fuel cell technology sphere.
The addition of Toyota brings over 30 years of fuel cell development in the passenger car sector, complementing Daimler Truck and Volvo Group‘s expertise in the commercial vehicles sector. Under the agreement, Toyota and Cellcentric intend to jointly manage the development and production of fuel cell unit cells, the core component of fuel cell systems.
President & CEO of Daimler Truck, Karin Rådström, expressed her excitement in welcoming Toyota on board Cellcentric. “We are proud that Toyota plans to join Cellcentric as a shareholder. This will enable us to strengthen development and further scale hydrogen technology, which we believe complements battery-electric drives in decarbonising transport,” she said.
Martin Lundstedt, President and CEO of Volvo Group, added, “This is an important signal to customers, suppliers, and others in the ecosystem. Given the importance of accelerating the transformation into net-zero transportation, the need for great companies to come together and collaborate is more important than ever. Welcoming Toyota on board will be a big leap towards realising decarbonisation of our industries.”
For Toyota, joining Cellcentric means further contribution to realising a hydrogen society alongside like-minded partners. “We are deeply grateful for the opportunity to join Daimler Truck and Volvo Group as partners in building a hydrogen society. Cellcentric with Toyota can combine their strengths to deliver one of the world-leading fuel cell systems for heavy commercial vehicles,” he noted.
Toyota, Daimler Truck, and Volvo Group have positioned hydrogen as one of the key energy sources for decarbonising transport, and intend to work with industry associations and partners across the value chain to support the development of hydrogen supply and infrastructure. The partnership aligns with the long-term objectives of the European Green Deal and Japan’s Hydrogen Society Act.
Cellcentric will continue to operate as an independent, autonomous entity, as the three companies behind it continue to compete independently across all other areas of their respective business.
