Toyota Motor Corporation, Volvo Group and Daimler Truck AG have signed a binding agreement under which Toyota will become an equal shareholder in cellcentric, strengthening their collaboration to advance hydrogen fuel cell technology for heavy-duty commercial vehicles. Following the completion of the transaction, each company will hold a one-third stake in the fuel cell joint venture.
The agreement follows the non-binding memorandum signed earlier this year and marks a significant step toward expanding the development and commercialisation of fuel cell systems for the global commercial vehicle industry. The transaction is expected to be completed around the end of 2026 or early 2027, subject to regulatory approvals.
With Toyota joining as an equal partner, the three companies will work together to strengthen cellcentric’s technological capabilities, manufacturing scale and global competitiveness in hydrogen-powered mobility. The collaboration is expected to accelerate the adoption of fuel cell technology for heavy-duty transport while supporting the industry’s transition to cleaner and more sustainable mobility solutions.
The partners also intend to work closely with industry organisations and stakeholders across the hydrogen value chain to promote the development of hydrogen production, distribution and refuelling infrastructure. By encouraging wider adoption of hydrogen technologies, the companies aim to help create a stronger ecosystem that supports commercial deployment of fuel cell-powered vehicles.
cellcentric will continue to operate as an independent company and remain focused on designing, manufacturing and supplying advanced fuel cell systems to a broad customer base. In addition to heavy-duty trucks, the company will continue serving applications such as buses, rail transport, marine vessels, stationary power generation and heavy off-highway equipment.
While collaborating through cellcentric, Toyota, Volvo Group and Daimler Truck AG will continue to compete independently in their respective commercial vehicle businesses. The partnership is designed to combine technical expertise and manufacturing strengths in fuel cell development while preserving competition in other areas of their operations.
The agreement reflects the growing commitment of leading global vehicle manufacturers to accelerate the commercialisation of hydrogen-powered transport. Fuel cell technology is increasingly being viewed as an important solution for long-haul and heavy-duty applications, where fast refuelling, long driving range and reduced emissions are critical requirements.
Founded in 2021 as a joint venture between Daimler Truck AG and Volvo Group, cellcentric has established itself as a dedicated developer of fuel cell systems for commercial vehicles. The company builds on decades of research and engineering experience inherited from its founding partners and aims to become a leading global supplier of fuel cell technology.
cellcentric currently employs more than 560 specialists across facilities in Germany and Canada, where multidisciplinary teams continue to develop next-generation hydrogen fuel cell systems. Supported by a portfolio of nearly 700 patents, the company continues to strengthen its position in fuel cell innovation and contribute to the development of sustainable transport solutions for the future.
