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NORWAY: Toyota inks fuel cell JV with Nissan, Honda and Hyundai

By Simon Warburton | 10 October 2012

Toyota has signed a joint Memorandum of Understanding (MoU) together with major automotive manufacturers and organisations from the Nordic Countries for the market introduction of fuel cell electric vehicles (FCEV) and hydrogen refuelling infrastructure for 2014-2017.

The MoU - featuring Toyota, Nissan, Honda and Hyundai -  is designed as a catalyst to begin a dialogue between public and private stakeholders in Norway, Sweden, Iceland and Denmark on securing relevant financing and support mechanisms for accelerating market introduction of FCEVs.

"The Nordic Countries are already a recognised world leader in advanced renewable green energy such as hydroelectricity and wind energy," said TMC managing officer, Soichiro Okudaira.

"I am pleased Toyota has the opportunity to participate in this collaboration seeking to advance hydrogen fuel cell technology, something we see as a vital part for the future of automobiles.

"As an automotive manufacturer, we not only aim to develop better products to meet the needs of our customers, our dedication to eco-mobility also stems from our company's principles to contribute positively to society."