Eleven companies have joined forces and signed an agreement to form a new corporation in the spring of 2018 aimed at the full-fledged development of hydrogen (H2) recharging stations for fuel cell vehicles in Japan.
Driven mainly by Toyota Motor Corporation, Nissan Motor Co Ltd., Honda Motor Co Ltd., JXTG Nippon Oil & Energy Corporation, Idemitsu Kosan Co Ltd., Iwatani Corporation, Tokyo Gas Co Ltd., Toho Gas Co Ltd., Air Liquide Japan Ltd., Toyota Tsusho Corporation and Development Bank of Japan, the new company will be established to accelerate Japan’s H2 initiative.
According to the ‘Strategic Road Map for Hydrogen and Fuel Cells’, released by a Council for a Strategy for Hydrogen and Fuel Cells, an industry body organised by the Ministry of Economy, Trade and Industry (METI) of Japan, in the initial phase of promoting fuel cell vehicles powered by H2, the target is 160 stations and 40,000 fuel cell vehicles by 2020.
The objective of the new company is to enhance the collaboration among infrastructure developers, automakers, and financial institutions in order to simultaneously accelerate and scale up Japan’s deployment of HRS and fuel cell vehicles.
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