Volvo Group, Daimler Truck and Toyota Motor Corporation announced today that they have signed a non-binding agreement for Toyota to join hydrogen fuel cell joint venture cellcentric as an equal shareholder.
Launched in 2021 by Volvo Group and Daimler Truck, cellcentric focuses on developing fuel cell systems for long-haul trucking and other heavy-duty applications, with a goal to become a global manufacturer and tier1 supplier of fuel cell systems.
The companies said that under the agreement, Toyota and cellcentric will jointly manage the development and production of fuel cell unit cells, the core component of fuel cell systems, as well as related architecture and control elements, with the aim of creating competitive products based on the technologies of both companies.
Koji Sato, President and CEO of Toyota said:
“We are deeply grateful for the opportunity to soon be joining Daimler Truck and Volvo Group as partners in building a hydrogen society. Cellcentric, which possesses deep expertise in commercial fields, together with Toyota’s more than 30 years of fuel cell development in the passenger car sector, can combine their strengths to deliver one of the world’s leading fuel cell systems for heavy commercial vehicles. Toyota will continue to contribute to realizing a hydrogen society alongside like-minded partners.”
While battery electric vehicles are an effective solution for some transport applications, such as shorter range routes, or those with available charging options, with the ability to use hydrogen to produce their own electricity, fuel cell trucks are particularly suitable for long-haul applications in areas where battery charging infrastructure may be limited, such as rural settings.
The companies said that they have positioned hydrogen as one of the key energy sources to decarbonizing transport and that by combining Volvo’s and Daimler Truck’s extensive commercial vehicle expertise with Toyota’s fuel cell development, production technology, and manufacturing experience, the companies aim to strengthen cellcentric’s technological advantage and scale hydrogen solutions more rapidly.
Martin Lundstedt, President and CEO of Volvo Group said:
“This is an important signal to customers, suppliers, and others in the ecosystem. Given the importance of accelerating the transformation to net-zero transportation, the need for great companies to come together and collaborate is more important than ever. Welcoming Toyota onboard will be a big leap toward realizing the decarbonization of our industries.”
Karin Rådström, President and CEO of Daimler Truck added:
“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 must complement battery-electric drives in decarbonizing transport.”
