Toyota Motor Corp. is set to launch hydrogen fuel-cell vehicles with its Chinese partners, Guangzhou Automobile Group Co. Ltd. and China FAW Group Corp., Reuters reported Sept. 26, citing a Chinese-language stock exchange filing from GAC.
The deal will see the Japanese carmaker install fuel cells on cars made by GAC and its subsidiaries, the report said. It will also allow Toyota to expand cooperation on hybrid vehicles and realize its plan to release more low-priced but good-quality battery electric vehicles with FAW and GAC, respectively.
Financial details of the cooperation were not disclosed, the newswire said.
The news follows Toyota's announcement in May that it plans to produce as much as 400,000 eco-friendly vehicles yearly in China with GAC. In July, Toyota signed an agreement with FAW and Higer Bus Co. Ltd. to supply fuel-cell components for hydrogen-powered buses.
