Toyota joins Volvo and Daimler Truck in cellcentric fuel cell venture

Toyota Motor Corporation has signed a binding agreement to become an equal one‑third shareholder in cellcentric, the heavy‑duty fuel‑cell joint venture originally founded by Volvo Group and Daimler Truck. The three manufacturers will each hold 33.3 % of the company, which develops, produces and commercialises fuel‑cell systems for trucks, coaches, rail, marine, off‑highway equipment and stationary power generation. Completion of the transaction is expected around the end of 2026 or the start of 2027, subject to regulatory approvals.

cellcentric will remain an independent supplier serving customers worldwide and currently employs more than 560 staff across sites in Germany and Canada, holding around 700 patents. The partners say the deal will strengthen the venture’s technological lead, industrial scale and competitiveness, while each company continues to compete independently in all other business areas and supports broader hydrogen‑supply and refuelling infrastructure development.