Volvo Group, Daimler Truck and Toyota Motor Corporation have signed a non-binding memorandum of understanding to collaborate on the development of the Cellcentric joint venture, with the aim of bringing the Japanese carmaker in as a third equal partner. The agreement covers the development, production and sale of fuel cell systems for commercial vehicles and other applications with similar requirements. The deal remains under negotiation and will require approval from the respective boards of directors and relevant authorities.
Toyota will contribute expertise built over more than three decades of fuel cell technology development, particularly in passenger cars, integrating this with the experience of Volvo and Daimler Truck in freight transport. The partnership also provides for joint management of the development and production of fuel cells, the core component of fuel cell systems, alongside architectural and control elements. Cellcentric will continue to operate as an independent entity, maintaining its role as a centre of competence for the development and production of hydrogen systems for on-road and off-road transport, as well as stationary applications. Volvo, Daimler Truck and Toyota will remain competitors in their core businesses, but will pool resources and capabilities to achieve economies of scale and greater efficiency in the investments required to roll out the technology.
The initiative comes as the three groups identify hydrogen as one of the key energy carriers for decarbonising heavy transport, complementing battery-electric solutions. The collaboration also aims to support the development of hydrogen infrastructure and the wider value chain, through engagement with industry associations and partners across the entire ecosystem. According to Martin Lundstedt, chief executive of Volvo Group, Toyota’s entry marks an important step in building critical mass in hydrogen applications and accelerating the transition to zero-emission transport. Karin Rådström, chief executive of Daimler Truck, said the move would strengthen technological development and expand the industrial scale of fuel cell solutions. Koji Sato, chief executive of Toyota, highlighted the complementarity between Cellcentric’s expertise in commercial vehicles and the Japanese group’s experience in hydrogen technology.
Founded in 2021 as a joint venture between Volvo Group and Daimler Truck, Cellcentric employs more than 560 people and holds around 700 patents related to fuel cell technology. The company aims to position itself as a global supplier of fuel cell systems for heavy transport, contributing to climate neutrality targets and the development of a hydrogen industrial value chain.
