Toyota Motor Corporation has signed a binding agreement to become an equal shareholder in cellcentric, the fuel cell joint venture established by Volvo Group and Daimler Truck. Once the transaction is completed, Toyota, Volvo Group and Daimler Truck will each own one-third of cellcentric. The companies expect the deal to close around the end of 2026 or beginning of 2027, subject to regulatory approvals. Toyota’s addition is intended to strengthen cellcentric’s fuel cell development capabilities, manufacturing capacity and competitiveness in heavy-duty commercial applications. Cellcentric will continue to operate as an independent company and Tier 1 supplier, with Volvo Group, Daimler Truck and Toyota continuing to compete separately in their other business areas. The proposed ownership structure brings together Volvo Group’s and Daimler Truck’s commercial vehicle experience with Toyota’s fuel cell development and manufacturing knowledge. Toyota has worked on fuel cell technology for more than 30 years, including passenger vehicles and heavy-duty truck demonstrations. Under the framework outlined when the companies announced the proposed partnership in March, Toyota and cellcentric also intend to jointly oversee the development and production of fuel cell unit cells, related system architecture and control components. Toyota planned to obtain its equal interest through an investment tied to a capital increase at cellcentric. cellcentric introduced its BZA375 fuel cell system in April, designed primarily for heavy-duty long-haul trucks and providing up to 375 kW of continuous net power, or more than 500 horsepower. Prototype production of the BZA375 has started, with systems being made available to customers for testing and validation. Larger volumes of prototype systems are expected to support initial fleet applications before series production, which is being prepared for around the end of the decade. The three shareholders also plan to work with industry associations and companies throughout the hydrogen value chain to support hydrogen