Toyota will develop fuel cell vehicles with FAW, GACSeptember 28, 2019
Toyota plans to produce hydrogen fuel cell vehicles with its Chinese partners Guangzhou Automobile Group and FAW Group, as the company seeks to expand its presence in the world’s largest automotive market.
Toyota will also equip the GAC models with fuel cells, according to a GAC statement on the Shanghai Stock Exchange on Thursday. The companies did not disclose the financial details of projects that deepen cooperation between partners in the development of new vehicles and communication technologies. Fuel cell vehicles use cells that electrochemically combine hydrogen with oxygen to generate electricity to propel a vehicle, with water being the only by-product.
Toyota will also expand communications on hybrid vehicles and plans to produce more electric vehicles with “good quality and low prices” separately from the FAW and GAC. Last year, Toyota planned to sell electric cars with the GAC logo at their joint venture dealerships to meet strict quotas for green cars in China.
The new development plan reflects Beijing’s goodwill gestures from Toyota, whose CEO Akio Toyoda wants to expedite the process, as well as establish an accurate balance between China and the United States. In 2018, Toyota sold about 1.5 million cars in China, which is much lower than global competitors General Motors and the Volkswagen Group. However, this lays the foundation for increasing sales in China to two million cars a year.
Toyota said in April it had begun supplying fuel cell parts to Chinese commercial vehicle makers Beiqi Foton Motor and Beijing SinoHytec. In July, the company said it would supply key parts for hydrogen fuel cells to Chinese automakers FAW and Higer Bus. Toyota will also share resources and experience in developing “smartly connected” vehicles with the GAC and FAW.
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