Toyota Motor Corporation announced on Mar. 31 that it has signed a non-binding Memorandum of Understanding with Daimler Truck and the Volvo Group to collaborate on fuel cell technology through the joint venture cellcentric. Toyota intends to become an equal shareholder alongside Daimler Truck and Volvo, bringing its expertise in fuel cell development and production technology to the partnership.
The move is significant as it brings together major players from both commercial vehicle manufacturing and fuel cell innovation, aiming to accelerate the development of hydrogen-powered systems for heavy-duty vehicles. The companies say this collaboration will help advance technological innovation in fuel cells, contributing to efforts toward decarbonising transport.
Under the agreement, all three shareholders plan to strengthen cellcentric’s position as a leading manufacturer of fuel cell systems for heavy-duty commercial applications. The companies intend for cellcentric to operate as an independent entity serving various customers across heavy-duty transport sectors. Toyota will participate in a capital increase at cellcentric by investing in the company, while all parties will continue competing independently in other business areas.
Karin Rådström, President & CEO of Daimler Truck, said: “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.” Andreas Gorbach, Board Member responsible for Truck Technology at Daimler Truck and former CEO of cellcentric, added: “Joining forces with the world’s largest automotive manufacturer and fuel cell pioneer is a privilege for us―and a game changer in making hydrogen in transportation a reality and cellcentric the go-to place for fuel cell technology in commercial vehicles worldwide.” Martin Lundstedt, President & CEO of Volvo Group said: “We are thrilled to explore this collaboration with Toyota… Welcoming Toyota onboard will be a big leap towards realising decarbonisation of our industries.” Koji Sato, President & CEO of Toyota said: “We are deeply grateful for the opportunity… Together we can combine strengths to deliver one of the world-leading fuel-cell systems for heavy commercial vehicles.”
The agreement remains non-binding while discussions continue toward reaching legally binding terms subject to board approvals and regulatory clearance. According to information provided by all parties involved, cooperation like this is seen as necessary not only for achieving technological scale but also supporting broader initiatives such as Europe’s Green Deal objectives and Japan’s hydrogen society goals.
Nicholas Loughlan, Managing Director & CTO at cellcentric said: “We are extremely proud that Toyota intends to join as a shareholder… Together… we look forward to seizing the opportunity to significantly improve our company across the entire value chain.” The companies expect their combined efforts through this partnership could help accelerate adoption of hydrogen technologies within global transportation sectors.
