- 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
