# 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.

- Type: Acquisition
- Announced: 2020-04-21
- Where: Nabern, Germany, Germany
- Value: $554.0M
- Status: announced
- Products: fuel cell systems for heavy-duty vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Daimler Truck AG](https://endata.com/companies/26930.md)
- [Volvo](https://endata.com/companies/9342.md) (partner)

## Sources

- [truckpartsandservice.com](https://www.truckpartsandservice.com/economic-trends/indicators/article/14990688/daimler-volvo-announce-joint-venture), 2020-04-21: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.