Daimler began
developing fuel-cell vehicles way back in 1994. To date, the company has
spent $1.23 billion on the propulsion technology. Toyota entered into the
hydrogen realm even earlier by kicking off development back in 1992.
With decades of combined experience, both companies have become front
runners in fuel-cell technology. Toyota and Honda became the first
automakers to put commercial hydrogen fuel-cell vehicles on the roads
back in 2002.
As you are likely aware, Toyota has teamed up with Tesla for
development of electric vehicles at NUMMI. Now, a new report suggests that the
company may join forces with Daimler (which also holds stake in Tesla) to develop affordable hydrogen-powered
vehicles.
According to the
Financial Times Deutschland (as reported in
Reuters),
Toyota and Daimler plan "extensive cooperation in the field of fuel
cells for electric cars."
The Financial Times also suggests
that the collaborative work could take the form of a joint venture. The
newspaper contacted both companies for official confirmation, but Toyota
denied knowledge of any such deal and Daimler was not available for
comment.
Last year, some of the major players in fuel cell technology agreed to
work together to promote the adoption of the hydrogen-powered vehicle.
Within that group, we saw names like Daimler, Toyota, General Motors, Ford, Honda, Nissan and Hyundai. With so many
companies pledging to combine their might on fuel-cell vehicle
development, we assumed that some sort of joint venture would emerge.
Tim Urquhart, an analyst at IHS Global Insight suggests that a
Toyota-Daimler joint venture could benefit both companies. As Urquhart
said:
The high development costs associated
with trying to bring fuel-cell powertrain technology to production means
that it is a highly logical step for Daimler and Toyota to try and
share the costs and their extensive knowledge in fuel-cell technology.