Toyota Motor Corporation is set to join Daimler Truck and Volvo Group as an equal shareholder in fuel cell joint venture cellcentric, following the signing of a non-binding Memorandum of Understanding between the companies. The move aims to strengthen the development and commercialisation of fuel cell systems for heavy-duty vehicles and other applications.
Scaling fuel cell technology for heavy-duty applications
The collaboration will combine Daimler Truck and Volvo’s commercial vehicle expertise with Toyota’s fuel cell development, production technology and manufacturing experience. The partners aim to develop, produce and commercialise fuel cell systems for heavy-duty vehicles and other applications with comparable requirements.
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 related architecture and control elements.
Hydrogen as a key pathway to decarbonisation
Daimler Truck, Volvo and Toyota have positioned hydrogen as one of the key energy sources to decarbonise transport. Through cellcentric, the companies aim to advance technological innovation in fuel cell systems and contribute to the development of a hydrogen society.
The partners also plan to collaborate with industry associations and partners across the hydrogen value chain to support the development of hydrogen supply and infrastructure in its early stages.
Karin Rådström, President & CEO, Daimler Truck, said:
“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 complements battery-electric drives in decarbonising transport”.
Equal shareholding and joint venture structure
The three companies intend to collaborate based on an equal shareholding, with Toyota joining as the third partner in cellcentric. To achieve this structure, Toyota plans to participate in a capital increase in the joint venture.
Cellcentric will continue to operate as an independent and autonomous entity, serving customers across heavy-duty on- and off-road transport and stationary applications. Daimler Truck, Volvo and Toyota will continue to compete independently in all other areas of their respective businesses.
Collaboration across the hydrogen value chain
The agreement highlights the importance of collaboration in advancing hydrogen technologies. The companies intend to work with like-minded partners to share technological developments and address common challenges, with the aim of achieving sustainable and effective implementation of fuel cell systems for heavy-duty applications.
Martin Lundstedt, President and CEO, Volvo Group, said:
“We are thrilled to explore this collaboration with Toyota, so that we through cellcentric can accelerate and create critical mass for hydrogen applications. This is an important signal to customers, suppliers, and others in the ecosystem. Given the importance of accelerating the transformation into net-zero transportation, the need of great companies coming together and collaborating is more important than ever. Welcoming Toyota onboard will be a big leap towards realising decarbonisation of our industries.”
Leadership perspectives on fuel cell collaboration
Andreas Gorbach, Daimler Truck Board Member responsible for Truck Technology and former cellcentric CEO, said:
“Joining forces with the world’s largest automotive manufacturer and fuel cell pioneer is a privilege for us―and a game changer in making hydrogen in transportation a reality and cellcentric the go to place for fuel cell technology in commercial vehicles worldwide.”
Koji Sato, President and CEO, 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 possess deep expertise in commercial fields together with Toyota’s over 30 years of fuel-cell development in the passenger car sector, can combine their strengths to deliver one of the world-leading fuel cell systems for heavy commercial vehicles. Toyota will continue to contribute to realising a hydrogen society alongside like-minded partners.”
Nicholas Loughlan, Managing Director and CTO, cellcentric, said:
“We are extremely proud that Toyota intends to join as a shareholder of cellcentric―a great sign of trust in our company from one of the world’s leading automotive companies. Together, in this new set-up, we look forward to seizing the opportunity to significantly improve our company across the entire value chain.”
Next steps for the agreement
The agreement is non-binding, and the parties will continue discussions with the aim of reaching a legally binding agreement. Any final agreement will be subject to approval by relevant boards and regulatory authorities.
The collaboration also aims to contribute to the long-term vision of the European Green Deal objectives and the hydrogen society act in Japan, supporting the wider deployment of fuel cell systems in heavy-duty transport.
