Toyota Plans to Collaborate With GM on Fuel Cell

Date Posted 07-12-2005

TOKYO — Toyota's recently appointed president, Katsuaki Watanabe, said his company has come close to finalizing a fuel-cell partnership with General Motors, according to the Associated Press.

Watanabe disclosed his company's plan to work with GM soon to create a commercially viable form of hydrogen fuel-cell combustion for automobiles.

He also emphasized his plan to secure 15 percent of the global market for Toyota within the next five years. That large of an international market share could allow Toyota to eclipse GM as the top automaker in the world.

In the meantime, Watanabe noted that Toyota is mulling the idea of building a hybrid pickup truck as another step in a long-term plan to have an all-hybrid vehicle lineup.

What this means to you: Though GM might not seem to need Toyota's help right now, after the runaway success of GM's employee discount program, the world's largest automaker surely could capitalize on advanced technology aid from Japan's No. 1 automaker.