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Benzinga
Benzinga
Business
Shivani Kumaresan

Toyota Looks To Develop Hydrogen Mobility In Europe

  • Toyota Motor Corp's (NYSE:TM) Europe business, Air Liquide SA (OTC:AIQUF), and CaetanoBus have signed a Memorandum of Understanding intending to develop integrated hydrogen transport solutions. 
  • The companies will focus on infrastructure connected to distribution and refueling; low-carbon and renewable hydrogen production; and deploying hydrogen in various vehicle types.
  • The initial focus would be on buses, light commercial vehicles, and cars, with a further aim to accelerate the heavy-duty truck segment.
  • The arrangement aims for "closer cooperation in developing opportunities for hydrogen mobility projects in several European countries."
  • In 2014, Toyota launched the Mirai, a hydrogen fuel cell sedan, CNBC reported.
  • The move comes in the wake of auto companies figuring out ways to enhance sustainability in the sector.
  • Price Action: TM shares closed higher by 0.48% at $159.98 on Tuesday.
  • Photo Via Wikimedia Commons
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