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Toyota rethinks its bet on hydrogen
The world’s largest carmaker is pivoting to commercial vehicles after passenger cars fail to gain traction
In 2014, Toyota’s then-president Akio Toyoda said he had “seen the future” and that the release of the Mirai, the company’s flagship hydrogen vehicle, would mark a “turning point” for the automotive industry. “When you now have a technology that already works, is super cheap, and is good enough — lithium-ion batteries — you have to question the necessity for investing in a whole new supply chain,” said Sam Adham, analyst at the CRU Group consultancy. Despite the setbacks, Toyota insiders said they had not given up on hydrogen for passenger cars, with Toyoda discussing a partnership last October with his counterpart at traditional rival Hyundai to advance fuel cell vehicles.
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