In April, Daimler and Volvo announced to establish a new joint venture for the development, production and commercialization of fuel cell systems for heavy-duty commercial vehicles.
With the establishment of Daimler Truck Fuel Cell, "the organizational and legal framework has now been created for bringing together all of the Group's fuel cell activities," according to Daimler Truck.
The new company was a "very special milestone," said Martin Daum, chairman of the board of management of Daimler Truck and member of the board of management of Daimler.
Daimler Truck Fuel Cell would later transition into the planned joint venture with Volvo, according to Daimler Truck. For this purpose, Volvo would acquire 50 percent of the new company.
All potential transactions were subject to examination and approval by the responsible competition authorities, Daimler Truck noted. The two companies were planning to start production of heavy-duty fuel cell commercial vehicles in the second half of the decade.
"The fuel cell is a crucial CO2-neutral solution for trucks in heavy long-distance transport," said Daum.
Latest comments