Toyota Plans Fuel-Cell Car By 2015
06/25/2009
SustainableBusiness.com News
Toyota Motor Corp. (NYSE: TM) plans to introduce a fuel-cell car by 2015 vice president Masatami Takimoto said, according to an AFP report.
He made the statement at a shareholder's meeting, but did not give more details. Toyota, like other global car companies, has been struglling in the economic downturn. The company in 2008 posted its first annual net loss in nearly 70 years and halted construction on a new plant in Mississippi that was to build Pruis hybrids.
The company continues to see hybrids as a major strength, according to comments made by new company president Akio Toyoda on Thursday.
Toyota began limited sales of a fuel-cell hybrid in 2002 in Japan adnd the U.S., expanding on technology used in its popular Prius hybrid.
Fuel cells generate electricity by combining a fuel such as hydrogen with oxygen.
Honda Motors (NYSE: HMC) began leasing a small number of fuel cell vehicles in California in 2008.
Last week Britain-based Riversimple unveiled a prototype two-seater that employs a fuel cell made by China's Horizon Fuel Cell Technologies.
The U.S. Department of Energy recently cut funding for hydrogen power research in its latest budget, reflecting the belief by some experts that fuel cell cars running on hydrogen are not a viable solution for zero-emissions transportation.