Daimler and Volvo Establish a JV for the Development of Heavy-duty Fuel Cell Systems

by Rudy P. SysAdmin at howtofindthemoney
Daimler has taken an organisational step towards a commercial vehicle fuel cell joint venture with Volvo Trucks: In the newly founded Daimler Truck Fuel Cell GmbH & Co. KG, all of the Group’s fuel cell activities will now be bundled together.

Andreas Gorbach (45) and Christian Mohrdieck (60) have been appointed as managing directors of the new company, as Daimler announces in a press release. In April, Daimler Trucks and the Volvo Group signed a preliminary, non-binding agreement to establish a new joint venture for the development, production and marketing of fuel cell systems for use in heavy-duty commercial vehicles, among other things. The future focus of fuel cells on commercial vehicles is tantamount to the discontinuation of the FCEV in Daimler’s passenger car division, the Mercedes GLC F-Cell.

The newly founded Daimler Truck Fuel Cell GmbH & Co. KG, which has now been established, will initially bundle all Group-wide fuel cell activities, including the former Mercedes-Benz Fuel Cell GmbH. Later, the company is to be transferred to the planned joint venture. The Volvo Group will acquire 50 per cent of the company, according to Daimler.

With “later”, however, the Group remains vague about a possible date for the establishment of the joint venture: all potential transactions are subject to examination and approval by the responsible competition authorities. The declared goal of the two groups is “to offer heavy fuel cell commercial vehicles for demanding and heavy long-distance traffic in series production in the second half of the decade”.

Martin Daum, a member of the Daimler Group Board of Management and Chairman of the Board of Management of Daimler Truck AG, describes the new subsidiary as the “immediate predecessor organisation of the joint venture. “In it, we will now bundle the great competence and the enormous wealth of experience from several decades of development work on fuel cells at Daimler – and combine it with the right know-how in trucks,” says Daum.

The two managing directors of Daimler Truck Fuel Cell are already working on the topic of fuel cells. Mohrdieck is currently Managing Director of Mercedes-Benz Fuel Cell GmbH and has been head of fuel cell development at the Daimler Group since 2003. Gorbach has been responsible for all fuel cell topics at Daimler Truck AG since May.

However, it is not yet known what the management of the joint venture will look like after the merger with Volvo Trucks.

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About Rudy P. Magnate II   SysAdmin at howtofindthemoney

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Created on Jun 9th 2020 07:05. Viewed 210 times.


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