Toyota Motor aims to join Volvo and Daimler Truck in fuel cell JV cellcentric
Volvo Group (Volvo), Daimler Truck AG (Daimler Truck), cellcentric and Toyota Motor Corporation (Toyota) have signed a non-binding agreement to cooperate in the fuel cell system joint venture cellcentric. The three companies intend to collaborate based on an equal shareholding with Toyota as the third joint venture partner to cellcentric. The combination of the parties’ complementary experience and know-how will support and accelerate their joint objective to develop, produce and commercialise fuel cell systems for heavy-duty vehicles and other heavy-duty applications with comparable requirements. Additionally, Toyota and cellcentric intend to jointly manage the development and production of fuel cell unit cells – the core component of fuel cell systems – and directly linked architecture and control elements with the aim of creating competitive products based on the technologies of both companies.
By combining Volvo’s and Daimler Truck’s extensive commercial vehicle expertise with Toyota’s fuel cell development, production technology and manufacturing experience the aim is to further strengthen cellcentric’s technological advantage and market competitiveness. It is intended that cellcentric will be the joint centre of competence that develops, produces and commercialises fuel cell systems for heavy-duty on – and off-road transport and other heavy-duty applications with comparable requirements. Furthermore, 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.
Volvo Group, Daimler Truck and Toyota have positioned hydrogen as one of the key energy sources to decarbonise transport and will accelerate technological innovation in fuel cell systems through cellcentric and thereby contributing to the realisation of a hydrogen society.
Martin Lundstedt, President and CEO, Volvo Group: “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.”
Karin Rådström, President & CEO, Daimler Truck: “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 must complement battery-electric drives in decarbonising transport”.
Koji, Sato, President and CEO, Toyota: “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.”
“We are extremely proud that Toyota is intending 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,” said Nicholas Loughlan, Managing Director, cellcentric
Independent entity with equal partners
Volvo, Daimler Truck and Toyota aim for equal shares in cellcentric, which will continue to operate as an independent and autonomous entity, serving a wide range of customers across heavy-duty on- and off – road transport as well as heavy -duty stationary ap plications. Volvo, Daimler Truck and Toyota will continue to compete independently in all other areas of their respective businesses.
The collaboration brings together complementary capacities to achieve the scale and investment efficiency necessary to commercialise competitive fuel cell systems. In order to secure hydrogen fuel cells as one of the key technologies to support the decarbonisation of transport worldwide, cooperation has become increasingly necessary.
