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Toyota Takes on Tesla, Nissan Over Hydrogen Fuel Cell Cars

TM stock is up 0.3% in early afternoon trading Wednesday


Toyota (TM) believes that hydrogen fuel cell cars will be more important than electric cars in the future of green technology.

ToyotaThe company’s senior vice president for automotive operations Bob Carter said that Toyota will release a groundbreaking hydrogen fuel cell car next year. He said that the vehicle could be as pioneering as the company’s gasoline-electric hybrid Prius. Carter also called out Tesla (TSLA), Nissan (NSANY) and Volkswagen (VLKAY) executives on their outdated electric car ambitions in the Detroit Auto Show.

“Personally I don’t really care what Elon [Musk, Tesla CEO] and Carlos [Ghosn, Nissan CEO] and Jonathan [Browning, Volkswagen executive] have to say about fuel cells,” Carter said. “It’s very reminiscent of 1998, 1999 when we first introduced the Prius.”

Regarding the accessibility of hydrogen stations, Carter said that they will grow in time and eventually be a part of gas stations everywhere. Fuel cell cars convert hydrogen to electricity by emitting water vapor with a similar range to conventional petrol-driven cars.

TM stock is up 0.3% in early afternoon trading Wednesday.

Article printed from InvestorPlace Media,

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