Toyota Motor Corporation has announced plans to join fuel cell joint venture cellcentric as an equal shareholder alongside Daimler Truck and Volvo Group, marking a major step toward accelerating hydrogen-powered transport solutions.
The three companies have signed a non-binding Memorandum of Understanding (MoU) to collaborate on the development, production, and commercialization of fuel cell systems, particularly for heavy-duty commercial vehicles and related applications. Toyota’s entry into the joint venture is expected to strengthen cellcentric’s technological capabilities and global competitiveness.
By combining Daimler Truck and Volvo Group’s expertise in commercial vehicles with Toyota’s decades-long experience in fuel cell development and manufacturing, the partnership aims to create advanced and scalable hydrogen solutions. A key focus will be the joint development of fuel cell unit cells—the core component of fuel cell systems—along with supporting architecture and control technologies.
The collaboration positions cellcentric as a central hub for fuel cell innovation in heavy-duty transport, including both on-road and off-road applications. The companies also plan to support the growth of hydrogen infrastructure by working with industry partners across the value chain.
Toyota President and CEO Koji Sato emphasized the importance of collaboration in advancing a hydrogen-based society, highlighting the company’s more than 30 years of experience in fuel cell technology. Leaders from Daimler Truck and Volvo Group also described the partnership as a significant step toward scaling hydrogen solutions and achieving net-zero transport.
The joint venture will continue to operate as an independent entity, with all three companies holding equal stakes once the agreement is finalized. Toyota is expected to invest in cellcentric through a capital increase to achieve this structure. Despite the collaboration, all three automakers will continue to compete independently in other areas of their business.
The move reflects a broader industry trend toward partnerships aimed at addressing the high costs and technical challenges of developing hydrogen technologies. The initiative also aligns with global sustainability goals, including the European Green Deal and Japan’s vision for a hydrogen-powered society.
While the agreement is currently non-binding, the companies plan to finalize a legally binding deal subject to regulatory approvals. If completed, the partnership is expected to play a key role in advancing fuel cell technology and supporting the global transition to low-carbon transportation.
