Toyota will supply fuel cells to Chinese auto concerns
June 8, 2020Toyota announced that it intends to establish a joint plant with 5 companies from China, where they will create fuel cell systems for commercial vehicles.
A joint venture with a capitalization of approximately 5 billion yen ($ 45.8 million) will appear before the end of 2020. Toyota will become a major shareholder with a 65% ownership interest. The partners are planning to build a research center in China, they intend to use fuel cell technology in trucks and other commercial vehicles.
The share of firms from China in the joint venture will vary in the range of 5-15%. The consortium consists of Beijing SinoHytec, which is part of Tsinghua University, BAIC, FAW, Dongfeng Motor and GAC.
The joint venture will give the Chinese the opportunity to realize ambitions regarding cars that have zero emissions. Toyota has been one of the leaders in the field of hydrogen cars since the launch of Toyota Mirai in 2014. In 2019, the Japanese corporation showed the second generation of the model.
In addition, it was recently noted that the Versus tuning studio prepared a tuning kit for the Toyota RAV4 crossover, consisting of unique wheels and wider wheel arches.
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