|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||24.88 - 25.18|
|52 Week Range||11.49 - 28.18|
|Beta (5Y Monthly)||1.24|
|PE Ratio (TTM)||16.47|
|Forward Dividend & Yield||1.75 (7.03%)|
|Ex-Dividend Date||Apr 05, 2021|
|1y Target Est||N/A|
Germany's Daimler Truck AG and Sweden's Volvo Group say they plan to jointly manufacture hydrogen fuel cells for trucks in Europe starting in 2025 and called on European Union policymakers to boost incentives for climate-neutral technologies.
Daimler Trucks and Volvo AB said on Thursday they aim jointly to cut the costs of hydrogen fuel cells by a factor of five or six by 2027 as they seek to make the zero-emission technology commercially viable for long-haul trucking. But even if cellcentric, the fuel-cell joint venture the two companies formed in March, brings down costs by that much, Martin Daum, head of Daimler AG's truck unit, said he doesn't see hydrogen-fueled trucks reaching cost parity with diesel models for at least 15 years. The German and Swedish makers of large freight-hauling trucks said cellcentric would start producing hydrogen fuel cells in Europe in 2025, and called for EU policies to help build out fueling infrastructure and provide subsidies and tax breaks to help make hydrogen trucks affordable for customers who want zero-emission models.
Today, two leaders of the commercial vehicle industry - Daimler Truck AG and Volvo Group - officially outlined their pioneering roadmap for the new fuel-cell joint venture cellcentric, as part of an industry-first commitment to accelerate the use of hydrogen-based fuel cells for long-haul trucks and beyond. With the ambition of becoming a leading global manufacturer of fuel-cell systems, cellcentric will build one of Europe's largest planned series production of fuel-cell systems, with operation planned to commence in 2025. To accelerate the rollout of hydrogen-based fuel-cells, the two cellcentric shareholders call for a harmonized EU hydrogen policy framework to support the technology in becoming a viable commercial solution.