China National Heavy Duty Truck Group and Toyota Motor Corporation signed a strategic cooperation agreement on April 25, at Toyota’s headquarters in Nagoya, Japan.
Toyota Motor Corporation possesses world-leading hydrogen fuel cell technology, and China National Heavy Duty Truck Group is a leading enterprise in China’s commercial vehicle industry. The hydrogen fuel cell tractor jointly developed by the two parties has already been delivered to the market in batches. In the future, the two sides will establish more extensive cooperation in the fields of cooperative research and development, demonstration and operation, promotion and application, and business model innovation of hydrogen fuel commercial vehicles, and work together to create a new ecosystem for the zero-carbon logistics industry chain.
Source: CNHTC Read The Article
PSR Analysis. Toyota possesses world-leading hydrogen fuel cell technology, while China National Heavy Duty Truck Group is a leading enterprise in China’s commercial vehicle industry. The hydrogen fuel cell tractors jointly developed by the two parties have already been delivered to the market in batches. This kind of cooperation can combine Toyota’s technological advantages with China National Heavy Duty Truck Group’s market and manufacturing capabilities, accelerating the optimization and innovation of hydrogen fuel cell technology.
The cooperation between Toyota and China National Heavy Duty Truck Group may form a complete hydrogen energy industry chain. For example, the inauguration of Toyota’s dedicated fuel cell research and production plant in Beijing marks the entry into a new phase of the fuel cell project jointly promoted by Toyota and its Chinese local partners. This kind of industrial synergy will help enhance the overall competitiveness of the hydrogen energy industry and promote its rapid development
This year, three hydrogen energy corridors are planned to be put into operation, covering major arteries such as the Beijing-Shanghai, Guangzhou-Shenzhen, and Chengdu-Chongqing routes. After scaling up, the cost of fuel cell systems is expected to decrease by 60% compared to 2020. At the same time, it is also observed that infrastructure needs to be developed in tandem. Currently, 60% of the cost of hydrogen comes from green hydrogen production using renewable electricity, and there is a need to further reduce electricity prices. Additionally, there are only 300 hydrogen refueling stations nationwide, with a target of 1,000 stations by the end of 2025. The construction of hydrogen refueling stations requires substantial financial investment. The government may include hydrogen-powered heavy-duty trucks in its purchase subsidy program for new energy vehicles. The implementation progress of these measures will largely determine the development trajectory of hydrogen energy heavy-duty trucks. PSR
Jack Hao is Senior Research Manager – China for Power Systems Research
