Toyota to join Volvo, Daimler Truck in hydrogen fuel cell venture

Volvo AB

31/03/2026 08:00

March 31 (Reuters) - Toyota Motor Corporation 7203.T plans to join Volvo Group  VOLVb.ST and Daimler Truck  DTGGe.DE in fuel cell joint venture cellcentric, Volvo said in a statement on Tuesday.

Daimler and Volvo have sought to join forces in making hydrogen fuel cells in an effort to cut costs, as some truckmakers and their suppliers rework combustion engines to run on less polluting low-emission hydrogen.

Toyota plans to join Volvo and Daimler Truck as an equal shareholder in the venture

The companies signed a non-binding memorandum of understanding and plan to reach a legally binding agreement

Their objective is to develop, produce and commercialise fuel cell systems for heavy-duty vehicles

Toyota and cellcentric will jointly manage the development and production of fuel cell unit cells and directly linked architecture and control elements

 "The partners aim to actively support the development of hydrogen supply and infrastructure in the early stages," Volvo said

(Reporting by Vera Dvorakova in Gdansk, editing by Milla Nissi-Prussak)

((vera.dvorakova@thomsonreuters.com))