Volvo, Daimler Truck and Toyota partner on fuel cell venture

Volvo Group, Daimler Truck and Toyota Motor Corporation have signed a non-binding memorandum of understanding for Toyota to join Cellcentric, the fuel cell joint venture currently owned by Volvo and Daimler Truck, as an equal third shareholder.

The agreement will see Toyota contribute its fuel cell development expertise to Cellcentric, which is intended to serve as a shared centre of competence for heavy-duty on- and off-road transport applications.

Toyota and Cellcentric also intend to jointly manage the development and production of fuel cell unit cells, the core component of fuel cell systems, along with directly linked architecture and control elements.

The three companies aim for equal shareholding in Cellcentric, which will continue to operate as an independent entity serving customers beyond its parent companies.