Diamler Truck and Volvo Group sign an agreement to form a joint venture.

by Apr 21, 2020

The companies plan on forming a joint venture to develop, produce and commercialize fuel cell systems for heavy-duty vehicles. The joint venture will operate as an independent entity and will help decrease development costs for both companies as well as accelerate the market introduction of fuel cell systems in products used for heavy-duty transport. The Volvo group is to obtain 50% in the joint venture for approximately 0.6 billion EUR. Link to the news: https://www.daimler.com/company/news/planning-joint-venture-volvo.html