Cellcentric appoints Ljungström as CFO

Lars Ljungström

Cellcentric, the 50:50 fuel cell joint venture of Daimler Truck and the Volvo Group, announced the appointment of Lars Ljungström to the position of chief financial officer (CFO) and managing director, effective August 2026. He succeeds Niklas Ekström, who left the company at the end of July.

Over the past 20 years, Ljungström has held various positions in the U.S. and Sweden, including CFO positions at Volvo Penta of the Americas, GKN Aerospace, Volvo Group Trucks Operations of the Americas and Volvo Aero Connecticut LLC. Most recently, he served as vice president of Strategy & Business Development at Volvo Penta North America.

Nicholas Loughlan, chief technology officer and managing director, as well as spokesperson of the Cellcentric Management Board, said Ljungström’s experience in leadership roles in both strategy and finance “will bring a strong entrepreneurial mindset to the Cellcentric team.”

“We are really happy to have him with us at cellcentric and in the management board of our company, joining Kai Wörner, our COO, and myself,” he added.

Ljungström, in turn, said he looks forward to contributing to the further advancement of the company and its fuel cell technology “and to play an active role in shaping the continued industrialization journey.”

“At Cellcentric, we are driving the future of fuel cell-electric powertrains forward every day. I’m proud to now be part of that team, being able to make a significant contribution to the decarbonization and resilience of heavy-duty long-haul freight transport and other heavy-duty applications,” he stated.

“Cellcentric’s globally active shareholders, Daimler Truck and the Volvo Group, are known for their focus on strong innovations, long-term visions for sustainable transport, and exceptional financial strength,” Ljungström continued. “Combined with Cellcentric’s strong expertise in fuel cell technology, we are in an excellent position to contribute powerfully to the transformation journey of the heavy-duty industry.”