Japanese automotive manufacturer Toyota Motor Corp. said Sunday that it is establishing a research institute for Chinese car technologies based on green energy and hydrogen power that could potentially eliminate environmental concerns in the country. Tsinghua University is also associated with Toyota in the budding program.
Amid a speech at Tsinghua University, Toyota’s President and CEO Akio Toyoda underscored the program of the research institute. The company’s move has involved a trail of efforts made by the company with the rigorous intention of business expansion to boost manufacturing capacity and worldwide distribution, a source said. Toyota also seeks to share valuable technological knowledge with China.
The Tsinghua-Toyota Joint Research Institute was set to regulate research into green and hydrogen power technology for cars to inspect and eliminate environmental problems in China, the company said earlier in a statement.
The institute will not only conduct research related to cars but also deeply analyze adequate and appropriate utilization of other green energies that can help to rule out energy issues in China, Toyota said further.
Toyota will offer worldwide automakers and suppliers free access to about 24,000 patents for electric vehicle technology, the company has affirmed this month. The company also said that it had already initiated sales of fuel cell vehicle parts for commercial automakers Foton and SinoHytec, but chose to keep financial transactions secret.