TM News & Events

Volvo Group (VLVLY), Daimler Truck (DTRUY), cellcentric and Toyota (TM) have signed a non-binding agreement to cooperate in the fuel cell system joint venture cellcentric. The three companies intend to collaborate based on an equal shareholding with Toyota as the third joint venture partner to cellcentric. The joint objective is to develop, produce and commercialize fuel cell systems for heavy-duty vehicles and other heavy-duty applications with comparable requirements. Additionally, Toyota and cellcentric intend to jointly manage the development and production of fuel cell unit cells-the core component of fuel cell systems- and directly linked architecture and control elements with the aim of creating competitive products based on the technologies of both companies. It is intended that cellcentric will be the joint center of competence that develops, produces and commercializes fuel cell systems for heavy-duty on- and off-road transport and other heavy-duty applications with comparable requirements. Furthermore, through collaboration with industry associations and partners across the entire hydrogen value chain, the partners aim to actively support the development of hydrogen supply and infrastructure in the early stages. Volvo, Daimler Truck and Toyota aim for equal shares in cellcentric, which will continue to operate as an independent and autonomous entity, serving a wide range of customers across heavy-duty on- and off- road transport as well as heavy-duty stationary applications. Volvo, Daimler Truck and Toyota will continue to compete independently in all other areas of their respective businesses. The signed agreement is non-binding. The parties will continue discussions and aim to reach a legally binding agreement, which will be subject to approval by all relevant parties and by the respective boards and authorities. The transaction, if implemented, is not expected to result in any significant impact on the result or financial position of the Volvo Group.

Toyota celebrated 40 years at its Kentucky plant - the company's largest manufacturing plant in the world. To commemorate the occasion, Toyota announced a $1B investment across its Kentucky and Indiana operations, affirming the company's commitment to meet growing customer demand and offer a diverse vehicle line up. The announcement is part of Toyota's November 2025 commitment to invest up to $10B in its U.S. plants over the next five years. "Toyota's investment in the U.S. is for the long-term, tied to our philosophy of building where we sell and buying where we build," said Mark Templin, executive vice president and chief operating officer, Toyota Motor North America. "We have created a tremendous value chain for nearly 70 years. Our teams have contributed to world-class design, engineering, and assembly of more than thirty-five million cars and trucks for our customers in the U.S." The investment includes: Toyota Kentucky: $800M to further Toyota's multi-pathway approach to electrification by preparing the plant for its second battery electric vehicle. The investment also allows the plant to increase capacity for the assembly of the Camry and RAV4. Toyota Indiana: $200M to increase capacity for the Grand Highlander. With this investment, Grand Highlander joins the assembly of the family-favorite Sienna minivan in the facility's East Plant while continuing assembly alongside the Lexus TX in the West Plant.

China's commerce ministry warned of another global semiconductor supply chain crisis due to conflicts between Nexperia and its Chinese subsidiary, Eduardo Baptista of Reuters reports. Last October, production in the global auto industry was disrupted after Beijing imposed export controls on Chinese-made Nexperia chips. While the chip shortage eased after negotiations, the conflict between Nexperia's headquarters and its China-based unit has only intensified. Publicly traded companies in the space include Ford (F), General Motors (GM), Honda (HMC), Lucid Group (LCID), Mercedes-Benz (MBGYY), Nissan (NSANY), Rivian (RIVN), Stellantis (STLA), Tesla (TSLA), Toyota (TM), BMW (BMWYY), Audi (AUDVF), and Renault (RNSDF).