Stay updated on the latest developments in Hydrogen vehicles with our free newsletter.
Receive a daily digest email, curated by our team, delivering the most up-to-date news on Hydrogen vehicles every morning.
Last month, Toyota made waves in the electric vehicle industry by announcing a major breakthrough in solid-state batteries. However, their low-key presentation on expanding their hydrogen technology business outside of Japan received less attention. Despite the rise of battery-powered vehicles, Japan and Toyota remain committed to hydrogen as an alternative to fossil fuels. However, the high cost of carbon-free hydrogen and the lack of filling stations have hindered the sales of hydrogen-powered vehicles.
Nevertheless, Toyota sees a significant market potential in Europe, China, and North America by 2030. These regions are competing to decarbonize and establish control over energy supply chains. Additionally, Toyota believes that fuel cells are well-suited for longer-range vehicles like delivery trucks due to their higher energy density.
Interestingly, Toyota doesn’t appear to recognize the compelling market potential in Japan itself. Despite being the first country to develop a national hydrogen strategy in 2017, Japan has fallen behind the US, Europe, and China in terms of aggressive targets and investment plans for hydrogen utilization. While Tokyo recently updated its strategy and set a new target for hydrogen supply by 2040, Japan has struggled to meet earlier targets and promote the use of renewable green hydrogen.
Toyota’s own target to sell over 30,000 fuel-cell vehicles annually worldwide has been missed. However, the company remains optimistic and has received global orders for 100,000 units of its hydrogen system by 2030. Toyota aims to double these orders by partnering with truckmakers in Europe and China to drive down costs.
Japanese companies like Toyota and Panasonic are increasingly looking outside of Japan to sell their hydrogen technology. While Japan is focused on increasing annual hydrogen supply to 3 million tons by 2030, China has set a target of 40 million tons, while Europe and the US aim to supply approximately 25 million tons each.
Despite the potential challenges in terms of energy security and industrial competitiveness, Japanese companies recognize China’s enormous potential for hydrogen-powered transport. However, they also acknowledge the importance of protecting their core technologies and know-how in fuel cell development.
For further inquiries, please contact [email protected].
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
