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Radstrom, Sato and Lundstedt pose for a picture announcing the joint venture. (Daimler Truck)

Toyota Motor Corp. fuel cell joint venture Cellcentric as an equal partner alongside Daimler Truck and Volvo Group, a move aimed at accelerating the development and commercialization of hydrogen fuel cell systems for heavy-duty vehicles.

The companies announced March 31 that they have signed a nonbinding memorandum of understanding outlining Toyota’s intention to become the third shareholder in Cellcentric, which was formed in 2021 by Daimler Truck and Volvo. Cellcentric develops, produces and commercializes fuel cell systems for use in heavy-duty commercial vehicles and other applications. Upon closing, all three companies would hold equal stakes, with Cellcentric continuing to operate as an independent entity.

The partnership is designed to combine Toyota’s experience in fuel cell development and manufacturing with Daimler Truck’s and Volvo’s commercial vehicle expertise. The companies said Toyota would bring complementary knowledge to strengthen Cellcentric’s technological position and help scale fuel cell systems for heavy-duty on- and off-road transport and other applications.

Under the proposed collaboration, 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 hydrogen supply and infrastructure. That includes working more broadly with industry groups, according to the news release.

“Through collaboration with industry associations and partners across the entire hydrogen value chain, the partners aim to actively support the development of hydrogen supply and infrastructure in the early stages,” the companies said.

Cellcentric has more than 560 employees across locations in Germany and Canada and holds about 700 patents.

Company executives described Toyota’s planned entry as a key step toward advancing hydrogen-powered transportation.

“We are proud that Toyota plans to join Cellcentric as a shareholder,” said Karin Radstrom, CEO of Daimler Truck. “This will enable us to strengthen development and further scale hydrogen technology, which we believe complements battery-electric drives in decarbonizing transport.”

Volvo Group CEO Martin Lundstedt added, “We are thrilled to explore this collaboration with Toyota, so that we through Cellcentric can accelerate and create critical mass for hydrogen applications. Welcoming Toyota on board will be a big leap towards realizing decarbonization of our industries.”

Toyota CEO Koji Sato said the automaker views the partnership as an opportunity to extend its fuel cell expertise into commercial vehicles. Sato said Cellcentric’s commercial-vehicle expertise, combined with Toyota’s more than 30 years of fuel cell development in passenger cars, positions the companies to deliver a leading fuel cell system for heavy commercial vehicles.

If finalized, Toyota would participate in a capital increase to achieve the equal-shareholding structure. Daimler Truck, Volvo and Toyota said they would continue to compete independently in all other areas of their businesses. The agreement remains nonbinding, and the companies said discussions will continue toward a legally binding deal subject to board and regulatory approvals.

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In the release, the companies stressed the importance of cooperation to expand hydrogen use in transportation. “Since its early days, hydrogen has been advanced through collaboration among many stakeholders, and cooperation is the foundation for its growth. Together with like-minded partners, the parties intend 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.”

Nicholas Loughlan, Cellcentric CTO, 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 setup, we look forward to seizing the opportunity to significantly improve our company across the entire value chain.”

Daimler Head of Truck Technology Andreas Gorbach added, “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.”

Assisted by AI.