After 20 years of pursuing a battery-powered future, Toyota has decided to take a different course powered by hydrogen.
Automotive News reports Toyota North America CEO Jim Lentz says his company sees EVs’ viability “in a select way, in short-range vehicles that take you that extra mile, from the office to the train, or home to the train, as well as being used on large [corporate] campuses.” This view is reflected in the decision to end its purchase agreement with Tesla of battery packs for 2,600 RAV4 EVs over three years, which Lentz personally felt future investment into the agreement would be better spent developing hydrogen fuel cells instead.
Speaking of such things, Toyota’s commitment toward a hydrogen future includes a $7 million “arms-length” investment in FirstElement Fuel Inc. — the startup founded by former General Motors and Hyundai executive Joel Ewanick — in its plan to build 19 hydrogen fueling stations throughout California by the autumn of 2015. The automaker’s own research found that 68 stations would be needed in California to meet the needs of 10,000 fuel cell vehicle owners, 50 of which are expected to come online by the end of 2016.
Lentz says he hopes his company won’t be alone in developing the emerging market like it was when the Prius first arrived. So far, Toyota, Honda and Hyundai are working on new fuel cell vehicles to help spur demand, the first of which are predicted to arrive in 2015.