Aligned with the Green Deal vision to achieve a carbon neutral Europe by 2050, Daimler Truck AG and Volvo Group have announced a new partnership for large-scale production of fuel cells.
Today the two companies announced that they have signed a preliminary non-binding agreement for the new joint venture, through which they will develop, produce and commercialise fuel cell systems for heavy-duty vehicle applications along with other uses.
The Volvo Group and Daimler Truck AG will be 50/50 partners in the joint venture, which will operate as an independent and autonomous entity, with Daimler Truck AG and the Volvo Group continuing to be competitors in all other areas of business.
“For trucks to cope with heavy loads and long distances, fuel cells are one important answer and a technology where Daimler has built up significant expertise through its Mercedes-Benz fuel cell unit over the last two decades,” said Martin Daum, Chairman of the Board of Management Daimler Truck AG and Member of the Board of Management of Daimler AG.
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