Toyota, Volvo Group and Daimler Truck AG sign binding agreement for Toyota to join cellcentric as equal shareholder
Leinfelden Echterdingen and Kirchheim u. Teck, Germany / Gothenburg, Sweden / Tokyo, Japan, 27 July, 2026 ― The Volvo Group, Daimler Truck AG, cellcentric and Toyota Motor Corporation (Toyota) have signed a binding agreement for Toyota to join as an equal partner and shareholder in cellcentric, with each owner to hold one third. The agreement follows the previous non-binding agreement signed at the end of March this year. Completion of the transaction is conditional upon obtaining regulatory approvals. Through the collaboration, the parties intend to strengthen cellcentric's position as a leading developer and manufacturer of fuel cell systems for heavy-duty commercial applications.
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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.