(Kirchheim, Germany) – As expected, Toyota Motor Corporation is acquiring a stake in fuel cell manufacturer Cellcentric GmbH & Co. KG. The company, located in Kirchheim unter Teck, Baden-Württemberg, is a joint venture founded in 2021 by truck manufacturers Daimler Truck AG and Volvo Group.
Toyota will hold one-third of the shares in the future.
The shares were previously split equally. According to the agreement now reached, Toyota will become an equal partner and shareholder. Going forward, each of the three partners will hold one-third of the shares. The planned investment was announced in March ( more details here ). The transaction is expected to close towards the end of 2026 or the beginning of 2027.
Toyota, Volvo, and Daimler signed a letter of intent in March for the Japanese company's investment in Cellcentrics. © Cellcentric GmbH & Co KG
The companies intend to further strengthen Cellcentric's position as a developer and manufacturer of fuel cell systems for heavy-duty commercial applications. Cellcentric will continue to operate "as an independent and autonomously managed company, serving a broad customer base," including applications in heavy road freight transport, off-road vehicles, and other fields such as coaches, stationary power generation, rail vehicles, and heavy machinery. In all other business areas, Daimler Truck, Volvo, and Toyota will continue to compete independently.
Photo above
In June 2024, Cellcentric started pilot production of its new fuel cell systems for trucks in Esslingen near Stuttgart. © Cellcentric GmbH & Co KG
