Toyota Aims to Run Cars on Hydrogen as Other Automakers Turn to EVs

By Benzinga
November 16, 2021 Updated: November 16, 2021

Toyota Motor Corp.’s experimental hydrogen car claims to preserve millions of auto jobs, Reuters reports, as claimed in a U.N. climate conference.

A converted GR Yaris engine running on hydrogen powers the colorful Toyota Corolla Sport. The viability of such a powerplant commercially could keep internal combustion engines running in a carbon-free world.

By 2025, Toyota aims to have 15 EV models and is investing $13.5 billion over a decade to expand battery production.

At the Glasgow meet, leading automakers, including General Motors Co., Ford Motor Co., Sweden’s Volvo AB, and Daimler AG’s Mercedes-Benz pledged to phase out fossil-fuel cars by 2040.

“We don’t want to be seen as an EV maker, but as a carbon-neutral company,” Toyota Vice Chairman Shigeru Hayakawa said.

“If the adoption of carbon-free fuels happens quickly, that could bring the first battery EV boom to an end,” as per an auto analyst.

“Hydrogen has long been known as a potential low-carbon transport fuel, but establishing it in the transport fuel mix has been difficult,” the IEA said.

Price Action

TM shares closed at 0.01 percent at $184.41 on Friday.

By Anusuya Lahiri 

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