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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not confirm the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups involved:
- The acquirer: the company “Toyota Motor Corporation”;
- The target: the company “Cellcentric GmbH & Co. KG”
- The historical shareholders: the company “Aktiebolaget Volvo” and the company “Daimler Truck AG”
Nature of the operation
- Joint control acquisition
Economic sectors concerned:
- Manufacturing and supply of hydrogen fuel cell systems.
Deadline for interested third parties to submit their observations:
- 10 days from the date of publication of this press release, i.e., September 14, 2026.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration project concerning the acquisition by the company “Toyota Motor Corporation” of joint control of the company “Cellcentric GmbH & Co. KG”, from its historical shareholders, the company “Aktiebolaget Volvo” and the company “Daimler Truck AG”.
“Toyota Motor Corporation” is a Japanese joint-stock company listed on the Tokyo Stock Exchange, headquartered at 1 Toyota-cho, Toyota City, Japan. It is a multinational automotive manufacturer, mainly active in the development, production, and sale of passenger cars ranging from city cars to SUVs and pickups, as well as in bus production and sales. Toyota also develops high-quality fuel cell technology, including for passenger cars.
“Aktiebolaget Volvo” is a Swedish public limited company headquartered in Gothenburg, Sweden, listed on the Stockholm Stock Exchange. The company operates globally in the production and sale of on-road and off-road trucks, buses, construction equipment, marine engines, industrial engines for off-road applications, energy production, as well as engines for road vehicles.
“Daimler Truck AG” is a German joint-stock company headquartered in Leinfelden-Echterdingen, Germany. The company operates globally in the production and sale of medium-duty trucks (MDT) and heavy-duty trucks (HDT) for long-distance transport, distribution, construction site transport, as well as special vehicles mainly used in municipal applications.
“Cellcentric GmbH & Co. KG” is a German joint venture headquartered at Neue Str. 95 (Industriepark Nabern), Germany. The company develops, produces, and markets hydrogen fuel cell systems (FCS) for heavy trucks (≥ 16 tons) and other comparable applications worldwide, including buses and other heavy vehicles.
Done in Rabat on September 3, 2026.
