Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 11 (Reuters)-Toyota CTO Hiroshima Nakajima said today that the company will focus on selling hydrogen-powered trucks and passenger cars in China and Europe, and plans to sell 200000 such vehicles by 2030.

▲ Touyuan Pexels's decision marks a shift in Toyota's strategic focus. Toyota has been a major proponent of hydrogen fuel cell vehicles as an alternative to electric vehicles, but until now Toyota has focused on passenger cars and the North American market.

The strategic update is the first strategic change since Toyota set up an independent hydrogen energy division this month, which aims to expand fuel cell technology applications to a wider range of areas, including industrial power generation and commercial trucks.

Toyota sold more than 3900 fuel cell vehicles in 2022, accounting for less than 1 per cent of its global sales of about 9.5 million vehicles. However, Yuki Nakajima said confidently: "it may sound strange, but 200000 is not a big number in our view, and we believe that this number and more can be achieved."

By focusing on China and Europe, where hydrogen production and demand is high, Toyota aims to reduce costs, Nakajima said. He also stressed that Toyota will seek to strengthen its ties with other companies.

CTOnews.com previously reported that Toyota and Daimler truck Holdings said in May that they had agreed to cooperate on hydrogen technology and reached a preliminary agreement to merge their respective truck operations in Japan.

Fuel cell cars use electric motors like electric vehicles, but get electricity from fuel cells. In a fuel cell, hydrogen is separated by a catalyst to generate electricity. High cost and too few refueling stations are the main obstacles to the popularity of hydrogen fuel cell vehicles, but hydrogen-powered vehicles can be fueled quickly and have longer mileage than electric vehicles.

Toyota quoted Fuji Economics, a market research firm, as saying that the global fuel cell market is expected to grow to about $35 billion (CTOnews.com Note: about 253.05 billion yuan) by 2030, more than 15 times the level in 2020.

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