Toyota joins Cellcentric as equal partner with Volvo, Daimler

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The Volvo Group, Daimler Truck, Cellcentric and Toyota Motor Corporation signed a binding agreement for Toyota to join Cellcentric as an equal partner, with each owner to hold one-third. Completion is conditional on regulatory approvals and is expected around year end 2026 or start of 2027. The partners plan to strengthen Cellcentric's role as a developer and manufacturer of fuel cell systems for heavy-duty commercial applications and to support hydrogen supply and infrastructure development. Cellcentric will operate independently, serves heavy-duty on-road and off-road transport and other applications, and has more than 560 employees and roughly 700 patents.

Toyota will hold one-third ownership in Cellcentric.