Daimler Truck AG (Daimler Truck), the Volvo Group (Volvo), cellcentric, and Toyota Motor Corporation (Toyota) have signed a binding agreement under which Toyota will join cellcentric as an equal partner and shareholder. In the future, each of the three shareholders will hold one-third of the shares. The agreement follows the non-binding memorandum of understanding signed at the end of March of this year. The closing of the transaction is still subject to regulatory approvals. Through this collaboration, the partners intend to further strengthen cellcentric’s position as a leading developer and manufacturer of fuel cell systems for heavy-duty commercial applications.

Upon completion of the transaction, Toyota will become an equal partner of cellcentric alongside Volvo and Daimler Truck. The partners plan to collaborate as equals with the goal of further expanding cellcentric’s technological lead, industrial scale, and competitiveness in the field of fuel cell technology for heavy-duty commercial vehicles. By collaborating with industry associations and partners across the entire hydrogen value chain, the partners aim to actively support the development of hydrogen supply and infrastructure and drive the establishment of a robust hydrogen ecosystem.

In addition, cellcentric will continue to operate as an independent and autonomously managed company, serving a broad range of customers, including applications in heavy-duty road freight transport, the off-road sector, and other areas such as tour buses, stationary power generation, rail vehicles, and heavy-duty construction equipment. In all other business areas, Daimler Truck, Volvo, and Toyota will continue to compete independently of one another. The transaction is expected to close toward the end of 2026 or early 2027, subject to the necessary regulatory approvals.

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