Toyota To Launch Hydrogen Fuel Cell Venture With Chinese Auto Firms

Toyota said it will launch the Beijing-based venture with FAW Group, Dongfeng Motor, Beijing Automotive, GAC and Beijing SinoHytec.

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Toyota will hold a 65 per cent share of the new joint venture

Japanese automaker Toyota Motor Corp said on Friday it would launch a new China joint venture with Chinese auto companies to develop fuel cell systems.

Toyota said it will launch the Beijing-based venture with FAW Group, Dongfeng Motor, Beijing Automotive, GAC and Beijing SinoHytec.

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The total investment amount will be about 5.02 billion yen ($46 million), Toyota said in a statement, adding it will hold a 65% share of the venture.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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