Once the deal is completed, Toyota will join Volvo Group and Daimler Truck as an equal one-third shareholder in cellcentric, which was established in 2021 by Volvo and Daimler Truck to accelerate the commercialisation of hydrogen fuel cell technology for heavy-duty applications.
Global automotive manufacturers Toyota Motor Corporation, Volvo Group and Daimler Truck have formalised plans to deepen their collaboration on hydrogen-powered transport after signing a binding agreement that will make Toyota an equal shareholder in cellcentric, their fuel cell technology joint venture.
The agreement marks a significant milestone in the global push to decarbonise heavy-duty transport, strengthening one of the industry's most ambitious partnerships focused on developing hydrogen fuel cell systems for commercial vehicles.
It follows a non-binding memorandum of understanding signed earlier this year and remains subject to regulatory approval before the transaction is expected to close around the end of 2026 or early 2027.
Once the deal is completed, Toyota will join Volvo Group and Daimler Truck as an equal one-third shareholder in cellcentric, which was established in 2021 by Volvo and Daimler Truck to accelerate the commercialisation of hydrogen fuel cell technology for heavy-duty applications.
