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Volvo Group and Daimler Truck form fuel-cell joint venture · Endata

◂ Announcements

Nov 2, 2020ACQUISITION

Volvo Group and Daimler Truck form fuel-cell joint venture

Volvo Group and Daimler Truck AG signed a binding agreement to form a joint venture for fuel-cell systems, with Volvo acquiring 50% of Daimler Truck Fuel Cell GmbH for approximately EUR 0.6 billion.

Value

$700.0M (600.0M EUR)

Status

Announced

Productsfuel-cell systems

CompaniesVolvo investor Daimler Truck AG partner

Sectors#Automotive Components

“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.”volvogroup.com

1 source
volvogroup.comVolvo Group & Daimler Truck sign for new fuel-cell joint ventureNov 2, 2020

Summarized from public sources; check the original articles before acting on it.

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