Toyota Motor (TYO:7203) will become a shareholder in Cellcentric following a deal with co-owners The Volvo Group and Daimler Truck, according to a Monday release.

Each of the owners will hold a third of the fuel cell system developer and manufacturer's shares.

The owners will collaborate on equal terms to boost the company's leading technological position, industrial scale, and competitiveness.

The partnership also looks to promote development in the hydrogen industry.

The transaction comes after a nonbinding agreement signed in March.

The parties expect to complete the deal by the end of 2026 or the start of 2027, subject to regulatory approvals.