Toyota announced on Watch Leverage OnlineTuesday to focus on selling hydrogen-powered trucks and cars in Europe and China, Reuters reported. This strategic shift is part of its aim to sell 200,000 hydrogen vehicles by 2030. In 2022, the Japan-based company sold just over 3,900 fuel-cell vehicles, accounting for less than half a percent of global sales of approximately 9.5 million vehicles. Earlier this month, Toyota established a dedicated hydrogen-focused unit to expand the use of fuel-cell technology in various applications, including industrial power generation and commercial trucks. By concentrating efforts in China and Europe, where hydrogen production and demand are highest, Toyota expects to keep costs down. Toyota’s CTO Hiroki Nakajima said, “This may be a strange way of putting it, but 200,000 is not a big number … .We believe this number and more can be achieved.” [Reuters]
