Chevron U.S.A. Inc., a subsidiary of Chevron Corp., and Toyota Motor North America Inc. have entered a memorandum of understanding (MoU) to explore a strategic alliance to develop commercially viable, large-scale businesses in hydrogen.
“This is another important step toward building a hydrogen economy,” says Bob Carter, executive vice president of Toyota Motor North America. “Combining Toyota’s decades of experience in developing hydrogen-powered fuel cell electric technology with Chevron’s deep resources in the energy sector has the potential to create new transportation choices for both consumers and businesses that move us toward our goal of carbon neutrality.”
The companies say they are seeking to work on three main strategic priorities: collaborating on hydrogen-related public policy measures that support the development of hydrogen infrastructure; understanding current and future market demand for light-duty and heavy-duty fuel cell electric vehicles and supply opportunities for that demand; and exploring opportunities to jointly pursue research and development in hydrogen-powered transportation and storage.
Photo: Bob Carter
