Volvo Group and Daimler Truck AG form fuel-cell joint venture

Volvo Group and Daimler Truck AG signed a binding agreement to form a joint venture to develop, produce and commercialize fuel-cell systems for heavy-duty trucks and other applications. Volvo Group will acquire 50% of Daimler Truck Fuel Cell GmbH & Co. KG for approximately EUR 0.6 billion. Closing is expected in the first half of 2021.

“For us at Daimler Truck AG and our intended partner, the Volvo Group, the hydrogen-based fuel-cell is a key technology for enabling CO2-neutral transportation in the future.”prnewswire.com

• 2 sources
• prnewswire.comJoint venture for large-scale production of fuel-cells: Volvo Group and Daimler Truck AG sign binding agreement for new fuel-cell joint ventureAB VolvoNov 2, 2020
• automotiveworld.comJoint venture for large-scale production of fuel-cells: Volvo Group and Daimler Truck AG sign binding agreement for new fuel-cell joint venture | Automotive WorldAutomotive WorldNov 2, 2020

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