Toyota Looks To Develop Hydrogen Mobility In Europe

Toyota Motor Corp's TM Europe business, Air Liquide SA AIQUF, and CaetanoBus have signed a Memorandum of Understanding intending to develop integrated hydrogen transport solutions.
The companies will focus on infrastructure connected to distribution and refueling; low-carbon and renewable hydrogen production; and deploying hydrogen in various vehicle types.
The initial focus would be on buses, light commercial vehicles, and cars, with a further aim to accelerate the heavy-duty truck segment.
The arrangement aims for "closer cooperation in developing opportunities for hydrogen mobility projects in several European countries."
In 2014, Toyota launched the Mirai, a hydrogen fuel cell sedan, CNBC reported.
The move comes in the wake of auto companies figuring out ways to enhance sustainability in the sector.
Price Action: TM shares closed higher by 0.48% at $159.98 on Tuesday.
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