Daimler Truck AG (Daimler Truck), the Volvo Group (Volvo), cellcentric, and Toyota Motor Corporation (Toyota) have signed a non-binding memorandum of understanding to collaborate in the fuel cell joint venture cellcentric.
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The companies intend to cooperate as equal shareholders, with Toyota joining the joint venture as a third partner. The combination of the partners’ complementary expertise and know-how is intended to support and advance their shared goal of developing, producing, and marketing fuel cell systems for heavy-duty commercial vehicles and other heavy-duty applications with comparable requirements.
Further, Toyota and cellcentric intend to jointly manage the development and production of individual fuel cell cells – the core component of fuel cell systems – as well as the directly related system architecture and control elements. The aim is to develop competitive products that optimally utilize the technologies of both companies.
The cellcentric JV will remain a joint centre of excellence for the development, production, and marketing of fuel cell systems for heavy-duty commercial vehicles and other heavy-duty applications with comparable requirements. The partners intend to actively support the development of hydrogen supply and infrastructure in the early stages through collaboration with industry associations and partners along the entire hydrogen value chain.
The three companies say they view hydrogen as a key energy source for the decarbonization of transportation. Through their collaboration at cellcentric, they aim to advance the technological development of fuel cell systems and thus contribute to the transformation toward a society in which hydrogen is a central energy carrier.
Karin Rådström, President & CEO of Daimler Truck said: “We are proud that Toyota intends to become a shareholder in cellcentric. This will allow us to strengthen the development and scaling of hydrogen technologies that complement battery-electric drives in the decarbonization of transport.”
Andreas Gorbach, Member of the Board of Management of Daimler Truck, responsible for Truck Technology and former CEO of cellcentric, added: “Working with the world’s largest automaker and fuel cell pioneer Toyota is not only a privilege, but also a groundbreaking milestone in making hydrogen a reality in transportation. This will allow us to make cellcentric the leading address for fuel cell technology in the commercial vehicle sector worldwide.”
Martin Lundstedt, President & CEO of the Volvo Group said: “We are very much looking forward to evaluating this collaboration with Toyota to advance the development of hydrogen applications through cellcentric and to achieve the necessary critical mass. This sends an important signal to customers, suppliers, and other players in the ecosystem. Given the urgency of accelerating the transition to carbon-neutral transport, collaboration between large companies is more important than ever. Welcoming Toyota on board will be a major step towards decarbonizing our industries.”
Koji Sato, President & CEO of Toyota said: “We are very grateful for the opportunity to soon partner with Daimler Truck and the Volvo Group to help build a hydrogen society. Cellcentric has extensive expertise in fuel cells for commercial vehicles, which ideally complements Toyota’s more than 30 years of experience in fuel cell development for passenger cars. Together, we can create one of the world’s leading fuel cell systems for heavy-duty commercial vehicles. Toyota will continue to contribute to the realization of the hydrogen society together with like-minded partners.”
“We are extremely proud that Toyota wants to become a shareholder in cellcentric – a strong sign of confidence in our company from one of the world’s leading automotive manufacturers. In this new constellation, we look forward to seizing the opportunity to significantly further develop our company along the entire value chain,” said Nicholas Loughlan, Managing Director and CTO of cellcentric.
Independent company with equal partners
Daimler Truck, Volvo, and Toyota are aiming for an equal stake in cellcentric. The joint venture will continue to operate as an independent company, serving a broad range of customers in the heavy-duty commercial vehicle sector and other heavy-duty applications with comparable requirements. To achieve this equal shareholder structure, Toyota plans to acquire a stake in cellcentric through a capital increase and invest in the company. In all other business areas, Daimler Truck, Volvo, and Toyota will continue to compete independently, the companies said.
The collaboration combines complementary expertise to achieve the necessary scalability and investment efficiency for the commercialization of competitive fuel cell systems.
To establish hydrogen-based fuel cells as a key technology for decarbonizing transportation worldwide, collaboration is becoming increasingly necessary. Furthermore, this step is intended to contribute to the long-term vision of the goals of the European Green Deal and the Japanese Hydrogen Society Act. Since its inception, hydrogen has been advanced through the cooperation of many stakeholders, as collaboration is the foundation for its widespread adoption. Together with like-minded partners, the contracting parties intend to share technological developments and jointly address challenges to achieve the sustainable and effective implementation of fuel cell systems for heavy-duty applications.
The signed agreement is described as non-binding. The parties will continue discussions and aim to conclude a legally binding agreement, which will require the approval of all relevant parties, as well as the respective boards and regulatory authorities.
About cellcentric
Cellcentric develops, produces, and markets fuel cell systems for use in heavy-duty commercial vehicles and other applications with comparable requirements. Founded in 2021, cellcentric is a joint venture between Daimler Truck AG and the Volvo Group. The company leverages the know-how and extensive experience its predecessor companies have accumulated over decades of developing fuel cell systems. Cellcentric’s goal is to become a leading global manufacturer and Tier 1 supplier of fuel cell systems, thereby contributing to climate-neutral and sustainable transportation. More than 560 highly qualified employees continuously advance state-of-the-art fuel cell technology. They work in interdisciplinary teams at the company’s locations in Kirchheim/Teck, Esslingen, Stuttgart (Germany), and Burnaby (Canada). Around 700 individual patents underscore cellcentric’s role in the development of fuel cell technology.
