Toyota City, Japan, Dec 18, 2024 - (JCN Newswire) - Toyota Motor Corporation (Toyota) has announced that its new production plan for fuel cells and a water electrolysis system to supply hydrogen was selected by the Ministry of Economy, Trade and Industry (METI) as a successful applicant for its Support Program for Building GX Supply Chains.
This METI program is based on the Draft Act for a Smooth Transition to a Decarbonized, Growth-Oriented Economic Structure (GX Promotion Act). It aims to establish a domestic manufacturing supply chain in the GX field, such as for fuel cells and water electrolysis systems that are indispensable for the achievement of carbon neutrality. The program is designed to accelerate efforts ahead of the rest of the world by maximizing the strengths of Japan's manufacturing supply chain and technology infrastructure, including small and medium enterprises.
Toyota will work with local governments, passenger and commercial vehicle manufacturers, and customers who use these vehicles to promote the creation of a hydrogen society and the widespread adoption of fuel cells. In this context, we aim to establish a strong position in the commercial truck market using hydrogen in 2030. The target will be the fuel cell market in Europe and America, where demand is expected to grow, with a goal of supplying 75,000 units.
Our target for the water electrolysis system is to have a cumulative business scale of 3 gigawatts by around 2030.
Toyota will continue its efforts to promote hydrogen in the value chain of producing as well as transporting, storing, and using in order to achieve carbon neutrality.
About Toyota
Toyota strives to be a strong corporate citizen, engaging with and earning the trust of its stakeholders, and to contribute to the creation of a prosperous society through all its business operations.
Our corporate principles form the basis of our initiatives, reflect values that enable action, and drive our mindset.
For the latest Toyota-related news and information:
https://tinyurl.com/ToyotaPressRelease
newsroom@global.toyota
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
