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

Global law firm DLA Piper advised Daimler Truck AG (Daimler Truck) on the binding agreement related to Toyota Motor Corporation’s (Toyota) entry into the fuel cell joint venture ‘cellcentric’. The announcement follows the firm's previous counsel to Daimler Truck during the negotiations leading to the preliminary agreement signed by the parties in March 2026.

Under the agreement, Toyota will join ‘cellcentric’ as an equal stakeholder alongside Daimler Truck and Volvo Group (Volvo), with each shareholder holding one third of the company. The transaction for the joint venture is expected to be completed by the beginning of 2027, subject to regulatory approvals.

Toyota’s entry as an equal stakeholder alongside Daimler Truck and Volvo marks a significant strategic milestone for ‘cellcentric’. Upon completion of the transaction, the three shareholders intend to collaborate on equal terms to strengthen ‘cellcentric’s’ technological leadership, expand its industrial scale and further enhance its competitiveness in heavy-duty fuel cell technology.

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 senior associate Lea Reifers (all Corporate). They were supported by partner Sylvia Ebersberger and senior associate Hannah Kirner as well as partner Dr Burkhard Führmeyer and counsel Eike Bodo Matthes (all IPT).

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