AB Volvo

03/01/2021 | Press release | Distributed by Public on 03/01/2021 10:06

Daimler Truck AG and the Volvo Group complete creation of fuel-cell joint venture: cellcentric

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 Groupand Daimler Truck AGown 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.

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

March 1, 2021

Journalists wanting further information, please contact:
Claes Eliasson, Volvo Group, +46 76 553 72 29, [email protected]
Peter Smodej, Daimler Truck AG, +49 176 30936446, [email protected]
Kim Jana Eisfeld, cellcentric, +49 176 30963783, [email protected]

For more information, please visit volvogroup.com

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs almost 100.000 people and serves customers in more than 190 markets. In 2020, net sales amounted to about SEK 338 billion (EUR 33.6 billion). Volvo shares are listed on Nasdaq Stockholm.