Daimler Truck AG and Volvo AB have completed their joint venture to develop, produce and sell electric heavy-duty trucks. The 50-50 venture, called Cellcentric, will be headquartered in Esslingen, Germany, and will start operations on January 1, 2022.
The two companies announced their plans to form the joint venture in April 2021, saying they wanted to accelerate the development of electric trucks and help reduce carbon emissions from the transportation sector.
Daimler Truck CEO Martin Daum said in a statement that the closing of the joint venture is a .
