The Volvo Group, Daimler Truck AG, cellcentric (sic) and Toyota Motor Corporation said today that they have signed a binding agreement for Toyota to join as an equal partner and shareholder in cellcentric. Each owner will hold a one third share. This completes a previously announced non-binding agreement to cooperate in the Daimler Truck and Volvo Group fuel cell system joint venture called cellcentric.*
“Completion of the transaction is conditional upon obtaining regulatory approvals. Through the collaboration, the parties intend to strengthen cellcentric’s position as a leading developer and manufacturer of fuel cell systems for heavy-duty commercial applications,” the companies said.
So-called ‘cellcentric’ will continue to operate as an independent and autonomous company and serve a broad range of customers in heavy-duty on-road and off-road transport, as well as other heavy-duty applications such as coaches, stationary power generation, marine, rail and heavy off-highway equipment. The Volvo Group, Daimler Truck AG and Toyota said they will continue to compete independently in all other areas of their respective businesses. [This will be a tricky task – AutoCrat.]
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Non-Binding ‘cellcentric’ Fuel Cell Agreement Moves Ahead
The Volvo Group, Daimler Truck AG, cellcentric (sic) and Toyota Motor Corporation said today that they have signed a binding agreement for Toyota to join as an equal partner and shareholder in cellcentric. Each owner will hold a one third share. This completes a previously announced non-binding agreement to cooperate in the Daimler Truck and Volvo Group fuel cell system joint venture called cellcentric.*
“Completion of the transaction is conditional upon obtaining regulatory approvals. Through the collaboration, the parties intend to strengthen cellcentric’s position as a leading developer and manufacturer of fuel cell systems for heavy-duty commercial applications,” the companies said.
So-called ‘cellcentric’ will continue to operate as an independent and autonomous company and serve a broad range of customers in heavy-duty on-road and off-road transport, as well as other heavy-duty applications such as coaches, stationary power generation, marine, rail and heavy off-highway equipment. The Volvo Group, Daimler Truck AG and Toyota said they will continue to compete independently in all other areas of their respective businesses. [This will be a tricky task – AutoCrat.]
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.