Toyota Aims To Run Cars On Hydrogen As Other Automakers Turn To EVs

Toyota Motor Corp's TM experimental hydrogen car claims to preserve millions of auto jobs, Reuters reports as claimed in an 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 GM, Ford Motor Co F, Sweden's Volvo AB VLVLY, and Daimler AG's DMLRY 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 higher by 0.33% at $185 on Friday.