HomeCommercial VehiclesDaimler Truck AG and the Volvo Group forms fuel-cell joint venture: cellcentric

Daimler Truck AG and the Volvo Group forms fuel-cell joint venture: cellcentric

- Advertisement -

Daimler Truck AG and the Volvo Group today completed the transaction to form the previously announced fuel-cell joint venture. The Volvo Group has acquired 50 percent of the partnership interests in the existing Daimler Truck Fuel Cell GmbH & Co. KG for approximately EUR 0.6 billion on a cash and debt-free basis.

In November 2020, the Volvo Group and Daimler Truck AG signed a binding agreement for the joint venture. A preliminary non-binding agreement was already signed in April the same year.

The ambition 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. Daimler Truck AG and the Volvo Group 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.

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

- Advertisement -

Related Posts

BMW iX45 Hydrogen undergoes extreme test drives in the Dubai deserts

The vehicles in the BMW iX5 Hydrogen pilot fleet, which launched in February this year, have completed an intensive round of hot-weather testing in...

Daimler Truck unveils new Freightliner eM2 electric truck in North American market

Daimler Truck North America (DTNA), the leading manufacturer of medium- and heavy-duty trucks in North America and a segment of Daimler Truck, unveiled the...

DHL Freight tests new Mercedes-Benz eActros 300 electric semitrailer truck

DHL Freight, one of the leading providers of road transportation in Europe, has put a Mercedes-Benz eActros 300 Tractor to the test over several...

Daimler India Commercial Vehicles 25 percent Sales growth in CY 2022

Daimler India Commercial Vehicles (DICV), a 100% subsidiary of Daimler Truck AG today announced that - despite supply chain headwinds and adverse cost environment...