Toyota Motor (TM) and BMW (BMWYY) will expand their partnership in fuel cell vehicles as the companies view them as possible next-generation eco-friendly models amid slowing growth in electric vehicle demand, Nikkei Asia’s Eiki Hayashi and Takayuki Yao report, citing sources. BMW plans to start mass production of a fuel cell vehicle model in a few years and based on the upgraded collaboration, Toyota will supply the automaker with additional key components for the vehicles, including hydrogen tanks and fuel cell systems.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TM:
- Toyota downgraded to Neutral from Outperform at Macquarie
- Toyota to convert most of Toyota, Lexus line-ups to hybrid, Reuters reports
- GM reduces China headcount as it resets operation there, Bloomberg reports
- Class Action Lawsuit Against Toyota Motor Corporation (NYSE:TM)
- Morgan Stanley survey of interns shows Tesla ‘cool factor’ is ‘cooling’
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue