Hydrogen powertrain developer Cellcentric welcomed another major manufacturer into the venture. Toyota Motor Corp. has signed a binding agreement to become an equal shareholder in Cellcentric, joining founding partners Daimler Truck AG and Volvo Group in the joint venture dedicated to developing and manufacturing heavy-duty fuel cell systems.

Under the terms of the deal, Toyota, Daimler Truck, and Volvo Group will each hold a one-third stake in the fuel cell developer. The binding agreement follows a non-binding intent announced earlier this year and is expected to close in late 2026 or early 2027, pending regulatory approvals.

By bringing three of the world’s largest commercial and automotive OEMs together, the transaction creates an industrial power block in heavy-duty hydrogen technology. The partners aim to leverage their combined scale to accelerate technological development, reduce production costs, and strengthen Cellcentric’s market competitiveness in zero-emission commercial powertrains.

Beyond hardware development, the partners stated they will collaborate across the broader hydrogen value chain to advocate for necessary infrastructure and accelerate supply deployment.

Despite the strategic alignment behind Cellcentric, the OEMs emphasized that the joint venture will continue to operate as an independent and autonomous entity. Cellcentric will supply its fuel cell systems to a broad range of external customers across on-road heavy-duty trucking, off-highway equipment, stationary power generation, coaches, and rail.