Toyota in Fuel-Cell technology collaboration with General Motors

Toyota in Fuel-Cell technology collaboration with General Motors

Toyota has announced that they are at the final stages of signing an agreement over sharing Fuel Cell technology with the world’ largest automaker General Motors. However, this deal does not mean that Toyota does not consider GM as a competition… in fact, they are aiming to overtake them as the world’s largest auto marker in the world in the coming times. Toyota’s president Katsuaki Watanabe said in a statement that GM provides good competition to Toyota and they do not want to lose in the market.

In fact, Watanabe has just been approved as the new president of the company as it is growing at a phenomenal rate in the United States and closing in on their dominance in the market. They are the second largest automaker in the world and are aiming to capture 15 percent of the world’s market in the years following 2010. If they are able to do it, it is very much likely to put them ahead of the GM on the global scale.

He also spoke about this upcoming deal between these two giants of the auto market. Watanabe said that the final details are being worked out in the agreement and it is just a matter of time before it is signed. The fuel cell technology is still in its nascent stages and provides an alternative mode of fuel for automobiles, which is more environment friendly. Both GM and Toyota are in a long-term partnership with each other and in fact run a plant together in California.

Toyota as an auto company is also considering developing a hybrid pickup truck, which would compliment their already impressive range of hybrid vehicles. Toyota Prius is a best seller in the United States and the company is also planning to massively increase its production to meet the demands.