Mercedes maker Daimler teams up with Swedish Volvo Trucks in fuel cell venture



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Mercedes maker Daimler teams up with Swedish Volvo Trucks in fuel cell venture

On Tuesday, the 21st of April 2020, the Stuttgart-based German automotive industry giant, Daimler AG, alongside the Swedish heavy-duty vehicle manufacturer Volvo Group, had reached an accord to partner up in order to develop, manufacture and sell the fuel cell systems for the heavy-duty vehicles, which many industry experts said could not be able to operate properly either on hydrogen powered cells or lithium-powered e-vehicle batteries, suggesting a critical sign that the global-scale ongoing pandemic has been quickening consolidations as a majority of carmakers were facing off a severe drought in liquidity over the narratives of a record low sales and demands of vehicles.

As a matter of fact, before the pandemic hit the European shores, a number of car and truck makers had been on the lookout to share costs on new technologies, while the attempts had reportedly reignited over the recent past as customers were eschewing the showrooms grievously hurt by the pandemic-led demand concerns.

Meanwhile, adding that the newly introduced joint venture between Volvo Group and the Mercedes-Benz maker Daimler AG would act as an autonomous and independent entity, the European carmakers said in a joint statement on Tuesday (April 21st), “The common goal is for both companies to offer heavy-duty vehicles with fuel cells for demanding long-haul applications in series production in the second half of the decade. ”