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Toyota Takes One-Third Stake in Cellcentric, Hydrogen Joint Venture with Daimler Truck and Volvo
Herz — World Desk · · 30s summary · 3 min read
The essentials
Toyota joins Cellcentric as third equal shareholder alongside Daimler Truck and Volvo. According to Handelsblatt and WirtschaftsWoche, a binding agreement has been signed by all four parties. Cellcentric, a joint venture specializing in fuel cell systems for heavy trucks, was founded in 2021. The transaction—for which a letter of intent was signed in March 2026—must be finalized by early 2027 at the latest, subject to regulatory approval. Upon completion, each of the three manufacturers will hold one-third of Cellcentric.
- Toyota becomes third equal shareholder in Cellcentric hydrogen joint venture with Daimler Truck and Volvo.
- Each partner will own one-third of the joint venture following transaction completion.
- Transaction finalization scheduled for early 2027, pending regulatory approval.
- Cellcentric develops fuel cell systems for heavy-duty trucks since 2021.
- The three manufacturers remain independent competitors in all other business areas.
What We Know
Toyota joins Cellcentric as third equal shareholder. According to Handelsblatt and WirtschaftsWoche, a binding agreement has been signed by Daimler Truck, Volvo, Cellcentric, and Toyota. Cellcentric, a joint venture of Daimler Truck and Volvo Group founded in 2021, develops fuel cell systems for heavy trucks.
Upon transaction completion, each of the three partners will hold one-third of Cellcentric. The three manufacturers will remain independent competitors in all other business areas.
The transaction must be finalized by early 2027 at the latest. It remains subject to approval by the relevant regulatory authorities.
Daimler Truck33.33
Volvo Group33.33
Toyota33.33
Context
Founded in 2021 as an equal joint venture between Daimler Truck and Volvo Group, Cellcentric is headquartered in Kirchheim unter Teck, near Stuttgart. Before Toyota's entry, the two founders each held 50 percent of the company.
A fuel cell produces electricity from hydrogen and oxygen, emitting nothing but water vapor. In heavy trucks, it powers an electric motor with zero direct CO₂ emissions at the tailpipe.
Toyota has established expertise in fuel cell technology. The Toyota Mirai, unveiled at the Los Angeles Auto Show in November 2014, was among the first hydrogen vehicles to be commercialized.
The partnership's stated objective is to strengthen Cellcentric's technological lead and accelerate industrial scaling. The three partners also aim to support the development of hydrogen infrastructure for heavy-duty transport.
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