Toyota Motor Corporation is set to become an equal shareholder in cellcentric under a newly signed binding agreement with Daimler Truck AG and the Volvo Group, marking a significant step in the development of hydrogen fuel cell technology for heavy-duty transportation.
If regulatory approvals are secured, Toyota will acquire a one-third ownership stake in cellcentric, joining Daimler Truck and Volvo as equal partners. The companies said the move is aimed at strengthening cellcentric’s position as a developer and manufacturer of fuel cell systems designed for demanding commercial vehicle applications.
The agreement follows a non-binding arrangement announced earlier this year and reflects continued industry interest in hydrogen as a potential zero-emission solution for long-haul trucking and other heavy-duty operations.
According to the companies, the partnership will focus on advancing fuel cell technology, increasing production scale, and improving competitiveness in the heavy-duty transportation sector. The three owners also plan to support development of the broader hydrogen ecosystem by working with industry organizations and other stakeholders involved in hydrogen production, distribution, and infrastructure.
While ownership will expand, cellcentric will continue operating independently and serving a wide range of customers. Its fuel cell systems are intended not only for heavy-duty on-road trucks but also for off-road equipment, coaches, rail applications, stationary power generation, and other industrial uses that require high-output power systems.
The agreement does not alter competition among the three automakers in their other business activities. Daimler Truck, Volvo Group, and Toyota will continue to operate and compete independently outside of their shared investment in cellcentric.
The companies expect the transaction to be completed near the end of 2026 or at the beginning of 2027, subject to regulatory approval.
cellcentric was established in 2021 as a joint venture between Daimler Truck AG and the Volvo Group. The company is headquartered in Kirchheim/Teck, Germany, and operates additional facilities in Esslingen and Stuttgart, Germany, as well as Burnaby, British Columbia, Canada.
More than 560 employees are involved in the development of fuel cell systems, and the company reports holding approximately 700 patents related to fuel cell technology. Its stated goal is to become a leading global manufacturer and Tier 1 supplier of fuel cell systems for sustainable transportation solutions.
For more information, visit www.cellcentric.de.