# 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.

- Type: Acquisition
- Announced: 2020-11-02
- Value: $700.0M (600.0M EUR)
- Status: announced
- Products: fuel-cell systems
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

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

## Sources

- [volvogroup.com](https://www.volvogroup.com/en/news-and-media/news/2020/nov/news-3817249.html), 2020-11-02: "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."

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