Heads of both corporations have already expressed their interest in the partnership for the future of motoring.
The collaboration between Toyota and Daimler would be the first project of this scale between the two manufacturers.
Fuel cells use a reaction between oxygen and hydrogen in order to produce electricity in a process that does not emit gases that contributes to the global warming.
Toyota staff estimated that it will go another 10 years before this technology will be offered to the public.
Toyota is investigating the fuel cell technology since 1992, while Daimler made the first steps in this area in 1994.
The German manufacturer has already invested over one billion euros in the project that develops this technology for series production.
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