Volvo Group and Daimler Truck AG enter joint ventureThe Volvo Group and Daimler Truck AG have a joint venture to develop, produce and commercialize fuel-cell systems for use in heavy-duty trucks as the primary focus, in addition to other applications. The ambition of both partners is to help take a step toward climate-neutral and sustainable transportation by 2050. The Volvo Group will acquire 50% of the partnership interests in Daimler Truck Fuel Cell GmbH & Co. KG for approximately $7 million on a cash and debt-free basis. Closing of the transaction is expected during the first half of 2021, subject
Industry News: November 2020
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