Toyota Motor North America, Inc. and the energy giant Chevron U.S.A. Inc. have announced a memorandum of understanding to explore a strategic alliance to lead the development of commercially viable, large-scale businesses in hydrogen, with the goal to advance a functional, thriving global hydrogen economy.
The two companies are seeking to work on three main strategic priorities: collaborating on hydrogen-related public policy measures that support the development of hydrogen infrastructure; understanding current and future market demand for light-duty and heavy-duty fuel cell electric vehicles; and exploring opportunities to jointly pursue research and development in hydrogen powered transportation and storage.
“This is another important step toward building a hydrogen economy,” says Bob Carter, executive vice president, Toyota Motor North America. “Combining Toyota’s decades of experience in developing hydrogen powered fuel cell electric technology with Chevron’s deep resources in the energy sector has the potential to create new transportation choices for both consumers and businesses that move us toward our goal of carbon neutrality.”
Andy Walz, president of Chevron’s Americas Fuels & Lubricants, adds: “We are excited to collaborate with Toyota. Working towards a strategic alliance on hydrogen presents an opportunity to build a large-scale business in a low-carbon area that is complementary to our current offerings. This opportunity leverages our market position, assets, technology, and organizational capability and supports our efforts to help advance a lower-carbon future.”
Toyota employs more than 47,000 in North America. The company has manufactured more than 40 million cars and trucks at its 14 manufacturing plants, 15 including our joint venture in Alabama that begins production in 2021.
Keyword: Toyota North America And Chevron Pursue Strategic U.S. Alliance on Hydrogen