Daimler Truck, Volvo join forces for fuel cell series production

April 21, 2020 //By Christoph Hammerschmidt
Daimler Truck, Volvo join forces for fuel cell series production
Fuel cell technology as an alternative to batteries as an energy source for electric vehicles has recently caught up considerably. Now two big players in the market for heavy trucks have taken a leap forward: Daimler Truck AG and the Volvo Group have launched a joint venture for the production of fuel cells. This means that it is no longer just a question of developing the technology, but of manufacturing it in large quantities at lower cost than in small series.

The companies have signed a preliminary, non-binding agreement to establish a joint venture. The aim is to develop, produce and market fuel cell systems ready for series production for use in heavy commercial vehicles and other fields of application. Daimler will combine all its current fuel cell activities in the joint venture. Volvo will acquire 50 percent of the joint venture for the sum of approximately 600 million euros.

"Transport and logistics keep the world running, while at the same time the need for transport continues to grow. Truly CO2-neutral transport will only be achieved by an electric drive train, whereby the energy can come from two sources: either from batteries or by converting hydrogen into electricity on board the vehicle. Fuel cells are a crucial solution for trucks used in heavy-duty long-distance haulage - a technology in which Daimler has already built up considerable expertise over the last two decades with Mercedes-Benz Fuel Cell GmbH. The partnership with the Volvo Group is a milestone in bringing fuel-cell-powered trucks and buses to our roads," said Martin Daum, Chairman of the Board of Management of Daimler Truck AG and Member of the Board of Management of Daimler AG.

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