Toyota joins Volvo and Daimler in hydrogen fuel-cell venture

Toyota is buying into cellcentric, taking an equal one-third stake alongside Volvo Group and Daimler Truck in the hydrogen fuel-cell venture, under a binding agreement that follows a non-binding pact signed in March. Three major truck makers backing one hydrogen fuel-cell venture is a harder data point than any press release about battery-electric momentum. (Toyota GB)

cellcentric, founded in 2021 as a Daimler Truck and Volvo Group joint venture, already employs more than 560 people across sites in Germany and Canada and holds around 700 patents in fuel-cell technology. It will keep operating independently, and all three shareholders say they will continue competing normally everywhere else in their businesses. The deal still needs regulatory sign-off, with completion pencilled in for late 2026 or early 2027 - so this is a statement of intent rather than a change fleets need to price in tomorrow. (Toyota GB)

Why this matters: UK operators weighing long-haul decarbonisation routes should note that hydrogen fuel cells now have three major OEMs backing a shared supply chain, which strengthens the case for eventual component availability and servicing support. It's a multi-year horizon, but worth factoring into any procurement strategy that assumes battery-electric is the only heavy-duty answer.