Daimler and Volvo in new joint venture to launch first hydrogen powered trucks by 2024


 

Daimler Truck and Volvo Group are launching a joint venture to develop, produce and commercialise hydrogen fuel cell systems for HGVs and buses. The first two trucks are planned to be on the road by 2024/25, ahead of mass production by the mid-2030s. The deal will see Daimler consolidate its entire hydrogen fuel cell division in the joint venture whilst Volvo Group will acquire 50% of the JV for around €600m (£530m). The partnership is subject to regulatory approval by […]