Cellcentric a new fuel-cell j.v between Daimler Truck AG and Volvo Group

The Volvo Group and Daimler Truck AG own equal interests in the joint venture, but continue to be competitors in other areas like vehicle technology and fuel-cell integration in trucks.

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CellcentricCommercial vehicle giants Daimler Truck AG and the Volvo Group have completed the transaction to form the previously announced fuel-cell joint venture.

The Volvo Group and Daimler Truck AG own equal interests in the joint venture, but continue to be competitors in other areas like vehicle technology and fuel-cell integration in trucks.

The Volvo Group has acquired 50 percent stake in the existing Daimler Truck Fuel Cell GmbH & Co. KG for approximately approximately EUR 0.6 billion. Both the vehicle giants have agreed to rename the company cellcentric GmbH & Co. KG.

The joint venture will develop, produce and commercialize fuel-cell systems for use in heavy-duty trucks as the primary focus, as well as other applications. A key goal of Daimler Truck AG and the Volvo Group is to start with customer tests of trucks with fuel-cells in about three years and to commence series production during the second half of this decade.

Goal

A key target of Daimler Truck AG and the Volvo Group is to start with customer tests of trucks with fuel-cells in about three years and to commence series production during the second half of this decade.

The goal is to make the new joint venture a leading global manufacturer of fuel-cells, and thus help the world take a major step towards climate-neutral and sustainable transportation by 2050.

(With inputs from Automotive Lead Research Team)

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