Toyota Motor Corporation aims to join Daimler Truck and Volvo Group as equal shareholder in the fuel cell joint venture cellcentric
- Daimler Truck, the Volvo Group, cellcentric and Toyota Motor Corporation have signed a non-binding Memorandum of Understanding to collaborate on fuel cell technology
- Toyota intends to join Daimler Truck and the Volvo Group as an equal shareholder in cellcentric
- Upon closing, Toyota will bring its complementary know-how and expertise to the joint venture
- All three shareholders intend to further strengthen cellcentric as a leading manufacturer of fuel cell systems for heavy-duty commercial applications
Leinfelden Echterdingen and Kirchheim u. Teck, Germany / Gothenburg, Sweden / Tokyo, Japan, 31st March 2026 ― Daimler Truck AG (Daimler Truck), the Volvo Group (Volvo), 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 advance 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.
Read the full press release on global.toyota
Toyota Motor Europe NV/SA (TME) oversees the wholesale sales and marketing of Toyota, GR (Gazoo Racing) and Lexus vehicles and parts and accessories, as well as Toyota’s European manufacturing and engineering operations. Toyota directly employs over 26,000 people and has invested over EUR 12 billion in Europe since 1990. Its eight European manufacturing plants are located in Portugal, the UK, France, Poland, Czech Republic and Turkey. Today, there are approximately 15,6 million Toyota and Lexus vehicles on European roads, whose drivers are supported by a network of 28 National Marketing and Sales Companies and around 2,300 retail sales outlets in 53 countries (EU, UK, EFTA countries , Israel, Turkey and other Eastern European countries). In 2025, TME sold 1,229,000 vehicles in Europe for a 7.2% market share. For more information, visit www.toyota-europe.com.
Toyota believes that when people are free to move, anything is possible. In the pursuit of "Mobility for All", Toyota aims to create safer, more connected, inclusive and sustainable mobility to achieve its mission of producing “Happiness for All”. In Europe, TME launched the KINTO mobility brand which offers a range of mobility services in 20 countries, and is growing its business-to-business sales of fuel cell products and engineering support. Contributing to the UN Sustainable Development Goals, Toyota is working to achieve carbon neutrality in its entire business across Europe by 2040.
Toyota views hydrogen as one of the key building blocks towards carbon neutrality, using fuel cell technology for mobility and in the wider economy beyond transport. Toyota’s advanced fuel cell technology is already integrated into passenger cars, buses, trucks, trains, marine and stationary applications for a range of business customers and other OEMs. To meet growing demand in the region, TME started producing its 2nd generation compact fuel cell modules in Europe in January 2022. In terms of infrastructure, Toyota's long-term vision is to establish 700bar as a standard for fuel cell electric vehicles and products.