Chevron, Toyota Pursue Strategic Alliance on Hydrogen
b"Chevron U.S.A. Inc., through its Chevron Products Company division (Chevron), and Toyota Motor North America, Inc. (Toyota) announced a memorandum of understanding to explore a strategic alliance to catalyze and lead the development of commercially viable, large-scale businesses in hydrogen, with the goal to advance a functional, thriving global hydrogen economy.\nThis press release features multimedia.
- b"Chevron U.S.A. Inc., through its Chevron Products Company division (Chevron), and Toyota Motor North America, Inc. (Toyota) announced a memorandum of understanding to explore a strategic alliance to catalyze and lead the development of commercially viable, large-scale businesses in hydrogen, with the goal to advance a functional, thriving global hydrogen economy.\nThis press release features multimedia.
- View the full release here: https://www.businesswire.com/news/home/20210421005208/en/\nChevron and Toyota 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.\n\xe2\x80\x9cWe are excited to collaborate with Toyota.
- Working towards a strategic alliance on hydrogen presents an opportunity to build a large-scale business in a low-carbon area that is complementary to our current offerings,\xe2\x80\x9d said Andy Walz, president of Chevron\xe2\x80\x99s Americas Fuels & Lubricants.
- Toyota has created a tremendous value chain and directly employs more than 47,000 in North America.