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Japanese automobile companies Toyota Motor Corporation and Hino Motors, Ltd. have announced to jointly develop a heavy-duty fuel cell truck. The two companies have decided to reduce CO2 emissions by 2050 and are developing electric vehicle technologies for global customers.

The joint development project of heavy-duty fuel cell truck is based on Hino Profia, and is being developed taking maximum advantage of the technologies both Toyota and Hino have cultivated over the years. The powertrain is equipped with two Toyota fuel cell stacks that have been newly developed for Toyota’s next Mirai and includes vehicle driving control that applies heavy-duty hybrid vehicle technologies, developed by Hino Motors.

The prominent deals and collaborations by Toyota Motor Corporation are featured below:

February 2020: Toyota Motor Corporation, announced a joint venture with Panasonic Corporation to establish Prime Planet Energy & Solutions, Inc for automotive prismatic batteries. Both companies have concluded a joint-venture agreement toward the establishment of a new company.

January 2020: Toyota Indiana announced the completion of a $1.3 billion modernization project. The expansion adds 550 new jobs at the plant. The company invested in new equipment installation, retooling, and advanced manufacturing technologies to further modernize the facility to meet the strong demand for Toyota Highlander.

November 2019: Toyota Motor agreed to establish a joint company for research and development for battery electric vehicles (BEVs) with BYD Company. The joint R&D company will be established in China, which will work on designing and developing BEVs (including platform) and its related parts.

September 2019: Toyota Motor Corporation’s Brazilian sales and manufacturing subsidiary Toyota do Brasil Ltda (TDB) announced plans to invest $246 million in its plant in Brazil to produce the company’s new vehicle. The plant already produces the Etios and Yaris models of TMC; the investment will helps to manufacture new models for the Brazilian market. The company plans to hire 300 new employees.

July 2019: Toyota Motor Corporation announced to expand collaboration with a leading ride-hailing platform Didi Chuxing, for Mobility as a Service (MaaS) in China. As per the agreement, Toyota will invest $600 million in DiDi Chuxing JV.

July 2019: Toyota Motor Corporation agreed to establish a joint venture with DENSO Corporation for research and advanced development of next-generation, in-vehicle semiconductors. Both the company will establish a new company in 2020.

April 2019: Toyota Motor Corp., DENSO and the SoftBank Vision Fund (SVF) announced that they would jointly invest $1 billion in Uber Technologies Inc.’s Advanced Technologies Group (Uber ATG). The investment helps to accelerate the development and commercialization of automated ridesharing services. As per agreement, Toyota and DENSO will together invest $667 million, and SVF will invest $333 million in Uber ATG.

About Toyota Motor Corporation

Toyota Motor Corporation is the world’s leading automotive manufacturer headquartered in Toyota city, in Aichi, Japan. Toyota was founded by Kiichiro Toyoda in 1937. The company engages in the design, manufacture, assembly, and sale of passenger cars, minivans, commercial vehicles, and related parts.

Toyota Motor Corporation proudly employs more than 370,000 employees across the world. The company builds approximately 10 million vehicles per year in about 28 countries and regions of the globe. The company manufactures premium mini-vehicles to commercial trucks and sell them in around 170 countries under brands like Toyota, Lexus, Daihatsu, and Hino.

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