In the UK, Fuel Cells Works reported that Toyota Motor Corporation, Shudao Investment Group and Sichuan Shudao Equipment Technology signed a joint venture agreement to form Shudao Toyota Hydrogen Energy Technology in Qingbaijiang District, Chengdu, China. This strategic partnership will focus on hydrogen fuel cell production, sales, and after-sales services, aiming to accelerate the development of the hydrogen economy in China’s southwestern region. With an initial investment of $145 million, the project will establish a comprehensive hydrogen fuel cell manufacturing base, utilizing Toyota’s TPS production method to ensure efficiency and quality. Shudao Toyota Hydrogen Energy Technology will initially produce hydrogen fuel cell systems, stacks, and key components, supporting applications in commercial vehicles such as heavy-duty trucks, buses, sanitation vehicles, and specialized equipment. Toyota and Shudao hold equal stakes, with Toyota Motor Corporation at 50%, Shudao Equipment at 45%, and Shudao Group at 5%. The joint venture will initially supply Sinotruk Chengshang’s hydrogen commercial vehicles. By 2024, it is expected to have produced 353 hydrogen-powered units, with orders already placed for an additional 480 vehicles.
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