Mumbai, July 27 -- Daimler Truck, the Volvo Group, Cellcentric, and Toyota Motor Corporation have signed a binding agreement for Toyota to join Cellcentric as an equal partner and shareholder. Under the terms of the deal, each owner will hold a one-third stake in the joint venture.

The binding contract follows a non-binding agreement signed in March. Completion of the transaction is expected by the end-2026 or early-2027 and remains subject to regulatory approvals.

Through the partnership, the companies intend to expand Cellcentric's technological lead, industrial scale and competitiveness in fuel cell systems for heavy-duty commercial applications. The partners also plan to work with industry associations and entities across the hydrog...