Toyota Motor Company and Beijing SinoHytec have established a joint venture company to promote the commercial vehicle fuel cell system industry in China. The planned joint venture will be based in Beijing and named Toyota SinoHytec Fuel Cell (FCTS).
Last year, Toyota Motor and five Chinese OEMs—China FAW Corporation Limited (FAW); Dongfeng Motor Corporation (DFM); Guangzhou Automobile Group Co., Ltd. (GAC Group); Beijing Automotive Group Co., Ltd. (BAIC Group); and Beijing SinoHytec—formed a joint venture: United Fuel Cell System R&D (Beijing) Co., Ltd. (FCRD). FCRD’s primary business is the development of fuel cell systems for commercial vehicles.
The new company FCTS will produce and sell the fuel cell system developed by FCRD. FCTS will be established this year, with a total investment of about ¥8 billion (US$72 million), with Beijing Sinotec and Toyota each contributing 50%.
The first product will be based on the fuel cell system used in the Toyota MIRAI, with output power boosted by FCRD to be suitable for commercial vehicles. Plans are to launch this system into the Chinese market this year.