Chevron U.S.A. Inc., through its Chevron Products Company division (Chevron), and Toyota Motor North America, Inc. (Toyota) have announced a memorandum of understanding to explore a strategic alliance to catalyze and lead the development of commercially viable, large-scale businesses in hydrogen, with the goal to advance a functional, thriving global hydrogen economy.
Chevron and Toyota are seeking to work on three main strategic priorities: collaborating on hydrogen-related public policy measures that support the development of hydrogen infrastructure; understanding current and future market demand for light-duty and heavy-duty fuel cell electric vehicles and supply opportunities for that demand; and exploring opportunities to jointly pursue research and development in hydrogen-powered transportation and storage.
“We are excited to collaborate with Toyota. Working toward a strategic alliance on hydrogen presents an opportunity to build a large-scale business in a lo