BMW, Toyota To Collaborate on Hydrogen Fuel Cell Technology

Collaboration Agreement - BMW and Toyota are teaming up to develop hydrogen fuel cell technology [1] - The collaboration will focus on jointly developing the powertrain system for passenger vehicles, which will be used in models from both companies [1] - BMW plans to launch its first series production fuel cell electric vehicle (FCEV) in 2028 [1] Strategic Vision - BMW Chair Oliver Zipse described the partnership as "a milestone in automotive history" and emphasized that the technology will shape future mobility [1] - Zipse also highlighted that the collaboration will herald an era of significant demand for fuel cell electric vehicles [1] - Toyota President Koji Sato stated that both companies share a belief in "technology openness" and a "multi-pathway" approach to achieving carbon neutrality [2] Market Reaction - Toyota Motor's American depositary receipts (ADRs) were down 1% at $182 66 in midafternoon trading on Thursday [2] - Toyota's ADRs are essentially flat year-to-date [2]