Daimler Truck and Volvo Group form joint venture for fuel cell systems

Daimler Truck AG and Volvo Group signed an agreement to establish a 50/50 joint venture to develop, produce and commercialize fuel cell systems for heavy-duty vehicles, with Volvo acquiring 50% for approximately $554 million.

“Daimler Truck AG and Volvo Group announced Tuesday they have signed an agreement to establish a new joint venture charged with the development, production and commercialization of fuel cell systems for heavy-duty vehicle applications and other use cases.”truckpartsandservice.com

• 1 source
• truckpartsandservice.comDaimler, Volvo announce joint venture | Trucks, Parts, ServiceTPS StaffApr 21, 2020

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