Toyota Motor Corporation has signed a binding agreement to become an equal shareholder in cellcentric, the fuel cell joint venture of Daimler Truck and Volvo Group. Each of the three automotive giants will hold a one-third stake in the company, which develops and produces hydrogen fuel cell systems for heavy-duty commercial vehicles and other applications.
The deal formalizes a preliminary agreement from March 2026 and is expected to close by the end of 2026 or early 2027, pending regulatory approvals. The collaboration aims to strengthen cellcentric's technological leadership and industrial scale, combining Daimler and Volvo's expertise in commercial vehicles with Toyota's long-standing experience in fuel cell technology.
cellcentric will continue to operate as an independent entity, and the three parent companies will remain competitors in all other business areas. The partners also intend to collaborate across the hydrogen value chain to support the development of necessary supply and infrastructure.