Toyota, SinoHytec, Four Chinese Carmakers Set Up JV to Develop Fuel Cell Tech
Zhang Yushuo
DATE:  Aug 21 2020
/ SOURCE:  Yicai
Toyota, SinoHytec, Four Chinese Carmakers Set Up JV to Develop Fuel Cell Tech Toyota, SinoHytec, Four Chinese Carmakers Set Up JV to Develop Fuel Cell Tech

(Yicai Global) Aug. 21 -- Japan’s largest carmaker Toyota Motor, FAW’s hydrogen fuel cell engine unit Beijing SinoHytec and four Chinese auto manufacturers have set up a joint venture to develop fuel cell technology for commercial vehicles.

Formed yesterday, United Fuel Cell R&D Beijing has JPY1.67 billion (USD15.8 million) in registered capital, according to enterprise information platform Tianyancha.

Toyota is the largest shareholder with a 65 percent stake, while SinoHytec is second with 15 percent. State-backed Dongfeng Motor, Guangzhou Automobile, First Automotive Workshop and Beijing Automotive Group each own 5 percent.

Editor: Ben Armour

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Keywords:   Toyota,Fuel cell,JV,NEVs