Toyota to become equal shareholder in cellcentric fuel cell venture
Toyota Motor Corporation will acquire a one-third stake in cellcentric, joining Volvo Group and Daimler Truck AG as equal partners in the heavy-duty fuel cell technology company.
Gothenburg, Sweden – Toyota Motor Corporation has signed a binding agreement to become an equal shareholder in cellcentric, a joint venture focused on heavy-duty fuel cell technology. Following the transaction's completion, Toyota will hold a one-third stake, alongside Volvo Group and Daimler Truck AG.
The binding agreement supersedes a non-binding one signed in late March 2026 and is subject to regulatory approvals. This move aims to bolster cellcentric's position in developing and manufacturing fuel cell systems for commercial vehicles.
cellcentric will continue to operate as an independent company serving customers in heavy-duty transport, coaches, stationary power, rail, and off-highway equipment. The partners also intend to collaborate on developing the hydrogen ecosystem, including supply and infrastructure.
The transaction is expected to close around the end of 2026 or early 2027. Toyota, Volvo Group, and Daimler Truck will continue to compete independently in other areas of their businesses.