(Yicai Global) Nov. 3 -- Japanese auto giant Toyota Motor will sell parts, among them hydrogen fuel cell stacks, to Chinese cold-chain equipment and hydrogen-energy device producer Snowman Group to galvanize hydrogen fuel cell use in China’s commercial vehicle sector, the local unit of the Aichi prefecture, Japan-based carmaker said on its official website yesterday.
Fujian province-based Snowman’s fuel cell systems will be installed on the cold-chain logistics vehicles Chinese vehicle maker Zhongtong Bus produces and sells, the very first time such China-made trucks and vans are to carry Toyota fuel cell stack components.
Prohibitive costs and a dearth of refueling infrastructure have thus far stifled widespread promotion and application of Toyota’s hydrogen fuel cell power in the world’s largest auto and new energy vehicle market.
Toyota also plans to develop and make hydrogen fuel cell power systems fit for refrigerated and heavy trucks and offer corresponding power services in China to push hydrogen fuel cells in the country’s cold-chain logistics sector by bringing in its fuel cell stacks and related parts, per the statement.
Snowman’s shares [SHE:002639] closed 1.13 percent up today at CNY6.27 (94 US cents). Toyota [TYO:7203] rose 2.15 percent to end at JPY6,949 (USD66.43).
Toyota set up its United Fuel Cell System R&D Beijing joint venture that researches and develops fuel cell systems for commercial vehicles together with China FAW Group, Dongfeng Motor, GAC Group, BAIC Group and fuel cell system integrator Beijing Sinohytec in August. Investment in this JV totaled some CNY326 million (USD48.7 million), with Toyota taking a 65 percent stake.
The JV conducts R&D of components and controlling technologies for fuel cell stacks and systems and of vehicles catering to Chinese commercial vehicle market demand.
Editor: Ben Armour, Xiao Yi