Last updated on March 9, 2021
The car group Volvo and Daimler Truck AG want to jointly bring fuel cell systems to series production. A joint venture has now been agreed , the companies announced on Monday . The focus is on the use of the systems in heavy trucks, but they should also be offered for other applications. Volvo should acquire 50 percent of the shares in Daimler Truck Fuel Cell GmbH & Co. KG for the sum of around 600 million euros, it said. The plans were announced in April .
In mid-September, Daimler announced that it would rely on a mix of battery and fuel cell to drive heavy trucks over the long term. The hydrogen-powered Mercedes-Benz GenH2 truck is expected to go into customer trials in 2023 and meet the same requirements as a diesel vehicle in terms of tractive power, range and performance.
According to the announcement, the joint venture will develop a system with multiple performance levels. This also includes a dual system with 300 kilowatts (kW) of continuous output for heavy long-haul trucks. "Since the use in heavy trucks is very demanding, the products of the joint venture are also ideally suited for other applications such as stationary power generation," the press release said.
Both companies want to test fuel cell trucks in customer use in around three years. Series production is planned for the second half of the decade. The transaction is expected to close in the first half of 2021. This is still subject to merger control by the competent authorities and is subject to other approvals. The company's headquarters are to be in Nabern, southwest of Stuttgart. Mercedes-Benz Fuel Cell GmbH is also headquartered there. The new company will have around 250 employees.