DLA Piper advises Daimler Truck on Toyota’s planned entry into fuel cell joint venture cellcentric

DLA Piper has advised Daimler Truck AG (Daimler Truck) on a non-binding agreement regarding a planned collaboration on fuel cell technology. The memorandum of understanding relates to the intended entry of Toyota Motor Corporation (Toyota) into the existing fuel cell joint venture, cellcentric, between Daimler Truck and the Volvo Group (Volvo) and was signed by the parties on 31 March 2026.

Toyota’s planned entry as an equal shareholder alongside Daimler Truck and Volvo marks an important strategic step in further strengthening and scaling fuel cell technology for heavy‑duty commercial vehicles and other demanding heavy‑duty applications. The transaction is intended to further develop cellcentric and reinforce its position as a leading centre of excellence for fuel cell systems in heavy commercial applications.

Combining Daimler Truck’s and Volvo’s extensive expertise in commercial vehicles with Toyota’s industry‑leading capabilities in fuel cell development and industrial manufacturing, the partnership aims to jointly develop, produce and market competitive fuel cell systems for heavy‑duty trucks and other applications.

Daimler Truck is making targeted investments in future technologies, particularly battery‑electric and hydrogen‑based powertrain solutions. Cellcentric was established in 2021 as a fuel cell joint venture between Daimler Truck and Volvo, is based in Germany and Canada, and focuses on the development, production and commercialisation of fuel cell systems for heavy‑duty commercial vehicles. DLA Piper, jointly led by partners Dr Tim Arndt and Dr Benjamin Parameswaran and counsel Sophie von Mandelsloh, previously advised Daimler Truck on the establishment of cellcentric as well as inter alia on the establishment of a joint venture with Volvo for digital transformation.

A cross-practice DLA Piper team from its Hamburg, Frankfurt, and Munich offices was jointly led by partner Dr Benjamin Parameswaran and counsel Sophie von Mandelsloh, with associate Lea Reifers (all Corporate/M&A) as part of the core team. They were supported by partner Sylvia Ebersberger and senior associate Philipp Lutz, and associate Hannah Kirner (all Commercial) as well as partner Dr Burkhard Führmeyer and counsel Eike Bodo Matthes (both IP).

The Daimler Truck team was led by Judith Walz (Inhouse Legal) and further included Lars Wettlaufer (M&A) and Thomas Scherzler (IP).