Toyota Motor acquires stake in fuel cell company cellcentric
Toyota Motor has signed a binding agreement to become a shareholder in cellcentric, a company focused on heavy-duty fuel cells. Upon approval, Toyota will become an equal partner with a one-third stake.
EDITORIAL | Cellcentric, a company developing fuel cell systems for heavy-duty applications, announced it has signed a binding agreement with Toyota Motor. The agreement will make Toyota Motor an equal partner and shareholder in the venture.
Subject to regulatory approval, the transaction will result in Toyota Motor holding a one-third stake in cellcentric. The other two shareholders, each holding a third, are Daimler Truck and Volvo Group, who established cellcentric as a joint venture in 2021. The company focuses on developing fuel cell systems for heavy-duty transport and other demanding uses, such as stationary power generation.
The collaboration aims to bolster cellcentric's technological leadership, industrial scale, and competitiveness within the heavy-duty fuel cell sector. This move aligns with Toyota's broader strategy of pursuing diverse decarbonization pathways, including hydrogen fuel cell technology.
All parties plan to actively support the development of the hydrogen ecosystem and infrastructure by engaging with industry associations and partners across the entire hydrogen value chain. This investment underscores the growing industry focus on hydrogen as a key solution for zero-emission heavy-duty transport.