Toyota Motor Corporation aims to join Daimler Truck and the Volvo Group as equal shareholder in cellcentric fuel cell joint venture
- Daimler Truck, the Volvo Group, cellcentric and Toyota Motor Corporation sign non-binding memorandum of understanding to collaborate on fuel cell technology
- Toyota intends to join Daimler Truck and the Volvo Group as an equal shareholder in cellcentric
- Upon closing, Toyota will bring its complementary know-how and expertise to the joint venture
- All three shareholders intend to further strengthen cellecentric as a leading manufacturer of fuel cell systems for heavy-duty commercial applications
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.
ENDS
Note to editors: the full press release can be viewed at global.toyota
