Toyota has decided to decrease their production of longer-range battery-electric vehicles (EVs) and instead focus on building hydrogen fuel cell vehicles in their North American plants. Jim Lentz, CEO of Toyota’s North American region, says that EVs are best suited for commuting and for use on large corporate campuses, “but for long-range travel primary vehicles, we feel there are better alternatives, such as hybrids and plug-in hybrids, and tomorrow with fuel cells.” Toyota is looking to the future by refocusing their efforts towards the development and production of hydrogen fuel cell vehicles.
Hydrogen fuel cell vehicles will be cheaper and more efficient, a savings that will benefit both Toyota and consumers. As part of this restructuring, Toyota has committed to fuel cell infrastructure in California. They have extended a $7 million arms-length loan to First Element Fuel, Inc., so they can build refueling stations for the new hydrogen fuel cell vehicles. The hydrogen refueling stations are slated to be up and running across California by fall 2015. Initially, the hydrogen fuel will be trucked in to the new stations until self-generating hydrogen stations become more cost-effective.
DCH Freehold Toyota is excited to watch the production of the new hydrogen fuel cell vehicles and pass along the savings to our customers. Call or contact us online to learn more about this new technology, or stop in today to test drive one of our new Toyota vehicles.
Toyota FCV at CES 2014 shown.
Image: Toyota
