Heavy-equipment maker Navistar International (NAV) - Get Report will produce hydrogen trucks using General Motors' (GM) - Get Report hydrogen-fuel-cell technology and supplier OneH2's fueling capacity.
The Lisle, Ill., company said its first zero-emission freight truck will be available by 2024.
"GM's vision of a world with zero emissions isn't limited to passenger vehicles. We believe in EVs for everyone," Doug Parks, executive vice president of global product development, purchasing and supply chain at GM, said in a statement.
OneH2, the closely held Longview, N.C., provider of hydrogen fuel, will be responsible for producing, storing and delivering hydrogen to fuel the trucks and for safety.
Navistar said it would take a minority stake in OneH2 under the agreement. Terms weren't disclosed. Navistar was part of a group that invested in OneH2. The investment round was led by Buckeye Partners, the Houston pipeline operator.
"Hydrogen fuel cells offer great promise for heavy-duty trucks in applications requiring a higher density of energy, fast refueling and additional range," Navistar President and Chief Executive Persio Lisboa said in a statement.
The partnership provides customers "with added flexibility through a new hydrogen truck ecosystem that combines our vehicles with the hydrogen fuel cell technology of General Motors and the modular, mobile and scalable hydrogen production and fueling capabilities of OneH2," he added.
Paul Dawson, president and CEO at OneH2, said hydrogen fuel "is the future of zero-emission renewable energy in the heavy truck market. ... [We] will be able to offer fleets a zero-emission truck with total cost of operation lower than diesel in key segments of the industry."
Navistar shares at last check were little changed at $44.06. Shares of GM, the Detroit auto giant, traded down 4.9% at $49.52.