Chinese automaker Toyota is a well-known auto manufacturer in the global market. The marketing strategy and development of Toyota cars always circulate in the global auto market. Toyota’s Hydrogen cell cars are very popular and now Toyota ventures with china.
Toyota joins hands with Chinese automakers to produce Hydrogen cell cars. Toyota has already glam in electric cars, autonomous driving, and hybrid cars. Toyota had been met up with five Chinese automakers to produce Hydrogen cell cars:
- Beijing Automotive Group (BAIC)
- China FAW Corporation
- Guangzhou Automobile Group
- Dongfeng Motor Corporation
- Beijing SinoHytec
Toyota holds 65% shares because they a high amount in this joint project. Toyota spent around 5.02 billion yen. After Toyota, the highest percentage of holders in this project is Beijing SinoHytec. Beijing SinoHytec holds 15% and each partner holds 5% shares. The name of this joint venture is the United Fuel Cell System R&D Company.
Electric cars are the future of the automotive industry. The production of electric cars increases rapidly worldwide. Electric vehicles reduce air pollution and decrease carbon emissions. Hydrogen cell cars help chine to get a green transportation system.
Toyota is a trusted and popular automotive brand in the world. The top-selling car in the world is Corolla that is manufactured by Toyota. The corporation of Toyota in this venture increases the value. Japanese automaker Toyota has already had a high number of hybrid car consumers in China.
Stay Connected with Auto Deals for the latest updates regarding the automotive industry.
