On March 24 and according to Japanese media Toyota Motor will produce key fuel cell components in China.
As the world’s largest automobile market, China plans to popularize 1 million fuel cell vehicles by 2035. In terms of fuel cell vehicles, Toyota took the lead in developing, and the production of core systems was previously limited to Japan. As a favorable policy condition, China hopes to carry out localized production, and Toyota has decided to produce the core system of fuel cell vehicles abroad for the first time.
According to industry insiders, although Toyota has absolute strength and voice in hydrogen fuel cell technology and patents. However, since its flagship product Mirai was launched in 2014, it has only sold about 10,000 units worldwide. In order to accelerate its accelerated development in the field of hydrogen fuel cells and solve the problems of high costs and shortage of infrastructure, Toyota must find a fast-growing and huge market.
According to the plan, Toyota will begin mass production of hydrogen fuel cells from 2020, and its global production capacity of fuel cell vehicles is expected to increase to 200,000 vehicles in 2025. It was revealed this time that it will produce key fuel cell components in China, and relevant domestic partners will directly benefit.
In May 2020, Toyota and China FAW, Dongfeng, Guangzhou Automobile Group , Beijing Automotive Group, Beijing Yihua through six enterprises in Beijing announced that it will set up a Toyota dominated by a hydrogen fuel cell research and development company – a joint Fuel Cell System Research and Development (Beijing) Co., Ltd.